Matrix Composites & Engineering (ASX:MCE) confirmed it has received a confidential, highly conditional and non-binding indicative proposal from Advanced Innergy Solutions (AIS) for a potential reverse merger transaction with the company, according to a Monday Australian bourse filing.
The proposal involves the company acquiring the privately owned AIS through the issue of its shares, with no cash consideration proposed for its shareholders.
The company is currently considering the preliminary and incomplete proposal alongside its financial and legal advisers.
The company said there is no agreement or understanding between the parties regarding the terms of any transaction.
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