News blog

Elektron Technology

• BY: Andrew Hore |
• POSTED: 17/06/2014 |

Elektron Technology has rejected proposals from fully listed Microgen. 

The initial proposal was that Microgen could inject between £12m and £18m into the company in return for a share stake. That proposal was rejected and instead Microgen considered a bid for Elektron. Microgen offered 5p a share for Elektron, which valued the company at £6m. Elektron’s net debt was £7.6m at the end of April 2014.

The Elektron board has rejected the bid as well and Microgen will not push forward without a recommendation.

The Elektron share price is unchanged at 4.25p

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2014_57.pdf