Yanks Boost Offer For Webcentral
MELBOURNE: The battle to acquire Melbourne-based and ASX-listed digital services company Webcentral continued yesterday, with Florida, USA-based technology company Web.com upping its offer for Webcentral, while an Australian contender, ASX-listed 5G Networks – also Melbourne-based – continued holding its cards close to its chest.
Web.com certainly appears the front-runner, after this week releasing a newly bolstered version of its offer, up 55 percent at 15.5 cents a share.
Looking to hammer home the point, Web.com CEO Sharon Rowlands said: “Our increased, all-cash offer to acquire Webcentral provides short-term, certain and substantial value to Webcentral shareholders.
“As a leading global Web technology company, Web will support Webcentral customers through its innovative Web presence solution portfolio and commitment to customer service.”
She noted that Webcentral posted a net loss of $18 million for its latest year, compared to a net profit of $1.6 million one year earlier.