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Innova board urges shareholders to reject Pollard Banknote offer

8th May 2017 6:54 am GMT

The board of Innova Gaming Group has urged its shareholders to reject the takeover offer from Pollard Banknote pending a strategic review to find a "financially superior" alternative.

The board has unanimously recommended that shareholders turn down Pollard's $2.10 per share cash offer amounting to CAD$43m.

Innova's board maintains that Pollard's offer undervalues the business and does not adequately compensate shareholders for tendering their shares. This has been supported by a written opinion from Innova's financial advisor [...]

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