Engenco’s (ASX:EGN) Acquisition Moves Forward with Elph Investments

June 20, 2025 07:13 PM AEST | By Team Kalkine Media

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Engenco’s (ASX:EGN) Acquisition Moves Forward with Elph Investments — Image source: Shutterstock

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Highlights

Engenco (EGN) receives unconditional takeover offer at 31 cents/share.

Elph Investments secures 92.68% interest, triggering compulsory acquisition.

Offer deadline set for 7.00pm AEST, 27 June 2025.

Engenco (ASX:EGN), a notable player in the Australian industrial sector, is progressing towards a significant corporate transition. The company has officially received an unconditional takeover offer from Elph Investments Pty Ltd at a cash consideration of 31 cents per share.

The takeover has now reached a pivotal threshold, with Elph Investments securing a relevant interest in 92.68% of Engenco’s shares. This milestone gives Elph the authority to initiate the compulsory acquisition of the remaining shares under Australian corporate law, streamlining the consolidation process.

In light of this development, Engenco's Recommending Directors have advised shareholders to consider the benefits of engaging with the current offer. They have indicated that opting into the existing offer could be more straightforward and time-efficient compared to waiting for the completion of the compulsory acquisition process. Shareholders are encouraged to respond ahead of the official closing time — 7.00pm Melbourne time on 27 June 2025.

The Employee Share Purchase Plan (ESPP) has also seen a noteworthy update. Holding lock restrictions tied to ESPP shares have now been lifted. This move enables eligible employee shareholders to fully participate in the current offer without procedural hurdles, reinforcing transparency and inclusion in the ongoing acquisition.

Engenco’s acquisition activity aligns with broader market interest surrounding ASX-listed midcaps, particularly within the ASX200, as investors remain focused on strategic consolidation plays and value unlocks in the current economic climate. While Engenco itself is not a direct constituent of the ASX200, the acquisition demonstrates how interest in similar industrial entities is intensifying amid macroeconomic shifts.

For shareholders, the closure of this deal marks a turning point as Engenco prepares to transition into new ownership under Elph Investments. This acquisition not only reflects the value perceived in Engenco’s long-term capabilities but also indicates continued momentum within Australia’s infrastructure and industrial logistics sectors.

As the deadline approaches, attention remains on the final steps of the acquisition and what it may signal for other players in the broader market space.

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