Craneware Rejects Takeover Bid, Confident in Growth Prospects
Why we think this is good
The RNS provides a positive update on Craneware's trading performance, with continued growth in revenue and adjusted EBITDA. The Board's rejection of the takeover proposal at a price they believe undervalues the company is also a positive signal. While the RNS does not contain an explicit profit upgrade or trading significantly ahead of expectations statement, the overall tone and details suggest the company is performing well and has a confident outlook.
Key Points
- Craneware rejects takeover proposal from Bain Capital
- Board believes proposal undervalues the company and its prospects
- Trading in year to 30 June 2025 has been strong, with continued growth in revenue and adjusted EBITDA
- Board confident in ongoing execution of Craneware's strategy
Summary
Craneware plc has rejected a takeover proposal from Bain Capital that valued the company at £26.50 per share, a price the Board believes fundamentally undervalues Craneware and its prospects. The Board confirms trading in the year to 30 June 2025 has been strong, with continued growth in revenue and adjusted EBITDA, and further Earnings, ARR and NRR acceleration. The Board is fully confident in the ongoing execution of Craneware's strategy and that its continued successful delivery will create significant value for shareholders.