“We received interest for in excess of 12% of the company,” the book message said.
“When aggregated with Wyloo’s existing position , the combined stake would not have met 19.9% target as stipulated at launch.Wyloo could’ve taken 12 per cent of the company, for a combined 16.9 per cent stake, but decided to walk away.Wyloo was seeking to buy 15 per cent of the company at $1.68 a share, which was a 13.8 per cent discount to the last close.For now, Wyloo’s expected to sit on Regis’ share register with a 4.9 per cent stake.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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