takeover, page-39

• Jun 1 2018 at 12:39 PM
• Updated Jun 1 2018 at 4:25 PM

iSelect confirms it's a takeover target, shares leap 33pc


Embattled comparisons website iSelect has received multiple unsolicited takeover bids less than six weeks after its share price was savaged after an earnings downgrade.

The ASX statement follows revelations by Street Talk that a number of parties were interested in the company and that it had approached Goldman Sachs and Allier Capital as financial advisers.

"The board is currently reviewing these approaches and assessing their merit," the company said.

"Shareholders should note there is no certainty that a transaction will result from these preliminary proposals."

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The offers from both listed and unlisted entities come as the owner of competitor Compare The Market, Innovation Holdings Australia, has been buying iSelect shares, amassing a sizeable stake of 12.21 per cent.

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