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10|02|2009 12:21 am EDT

Photon Group Launches Takeover Offer For Dark Blue Sea

by Chad Kettner in Categories: News

Photon Group Limited,  one of Australia’s largest communications companies representing more than 49 independent specialist businesses, has launched a takeover bid for Dark Blue Sea, the parent company of Fabulous.com.

Photon, which already owns 30.55% of all DBS company issued shares, is offering 30 cents per share for all of the remaining ordinary shares in Dark Blue Sea (ASX:DBS).

“Photon believes the bid is an extremely attractive offer for DBS shareholders, representing a 56% premium to the average trading price of DBS shares in the last month,” said Tim Hughes, Executive Chairman of Photon Group.

The only condition to Photon’s offer is that it receives a minimum acceptance of 50.1% and that certain prescribed occurences do not occur before the offer takes effect (click here for details). Dark Blue Sea shares rose 57.5% today to 0.315.

[via Photon Group]

UPDATED :
Dark Blue Sea CEO Greg Platz has released a statement at the DBS site.

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5 Comments

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Available Domains

October 3, 2009 @ 6:57 am EDT

This looks like a strategic investment decision benefiting Photon Group.

Patricia Kaehler

October 4, 2009 @ 2:58 pm EDT

Does anyone know where I could get the list of businesses that encompass the Photon Group ??

And the names of the top people at Photo Group…

I’ve been to their website…

the info I seek in full – is not there…

~Patricia Kaehler – DomainBELL

[…] the announcement of Photon Group’s take-over move, Dark Blue Sea (ASX:DBS), parent company of Fabulous.com and Domain Distribution Network (DDN) has […]

[…] the announcement of Photon Group’s take-over move, Dark Blue Sea (ASX:DBS), parent company of Fabulous.com and Domain Distribution Network (DDN) has […]

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