Educational software developer Entellect Solutions (ASX:ESN) has made a takeover bid for Yilgarn Limited.
Yilgran is an unlisted public company which develops transport infrastructure solutions for mining operations in remote locations. It currently has a holding of $3.5 million in cash and liquid assets.
The parties have entered a pre-bid agreement over the proposal.
Entellect is offering 36 shares for each share in Yilgarn for the takeover offer. After this transaction, Yilgarn shareholders will hold around 25% of Entellect.
As Entellect is itself the target of a takeover bid Entellect and Yilgarn are currently discussing how Mooter Media's (ASX:MMZ) offer impacts their plan.
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