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Construction needs cloud flexibility
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read moreVolante and Commander both in trading halt - merger talks?
Stan Beer
Monday, 06 March 2006 04:52
Both Volante (ASX:VGL) and Commander (ASX:CDR) announced a halt in share trading at about the same time - just after 10am this morning.
The companies have been in a long running take-over battle, with telco supplier Commander attempting to buy IT products and services supplier Volante for $1.01 a share. VGL shares are currently frozen at $1.095. The hostile take-over bid has been ongoing since 23 December 2005.
The trading halt announcements from both companies are identical, stating that there will be a halt until Wednesday 8 March, unless there is an announcement released first. This suggests strongly that negotiations between the two companies for a merger could be going ahead.
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