CURRO WALKS AWAY
Curro has backed down from its proposed 1 300c offer to AdvTech shareholders. A fairly terse Sens from Curro stated that it would be withdrawing and thanked the over 50% of AdvTech shareholders who supported the offer verbally or in writing. I am surprised Curro walked away so easily. I think the merged group would have been good for shareholders – something I have taken a lot of f lak for. But AdvTech mounted a strong defense, most notably at its AGM where a number of resolutions were voted against by over 40% of those attending. So for now the two companies remain separate and the AdvTech management team needs to prove that it was right in rejecting the Curro offer.
Curro Roodeplaat School in Pretoria, South Africa.