ConnectEast Group (ASX:CEU) shares are in a trading halt ahead of a vote on a $2.17 billion takeover offer.
Shareholders are due to vote on the take-over offer from Horizon Roads, a new investment company that is managed by Australian-owned global infrastructure investment manager CP2.
ConnectEast said it felt it would be best practice for the trading of its securities to occur in an informed market.
If security holders pass the resolutions, the Supreme Court of Victoria is still required to approve the deal.
ConnectEast shares last traded at 48.5 cents.
ConnectEast Group (ASX:CEU) reported a loss of $10.26 million for the half year to June.
CEU Price at posting:
48.5¢ Sentiment: None Disclosure: Held
