SAI Accepts A$1.01 Billion Private-Equity Bid After Stock SlumpBy
Baring Private Equity offers A$4.75 a share, a 32% premium
SAI share price has fallen 31% from a June 2014 peak
SAI Global Ltd., the Australian standards and risk management company, accepted a A$1.01 billion ($769 million) takeover offer from Baring Private Equity Asia following a slump in its stock.
Shareholders in SAI Global will receive A$4.75 a share in cash, 32 percent more than the stock’s closing price on Sept. 23, the Sydney-based company said in a statement Monday.
Directors of SAI unanimously recommended the proposal and the company ended a strategic review of its assurance business. SAI has tumbled 31 percent from a June 2014 peak of A$5.20…
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