RPMGlobal (ASX:RUL) entered into a scheme implementation deed with Caterpillar, under which the latter will acquire all of the fully diluted share capital in the company through a scheme of arrangement, according to a Monday filing with the Australian bourse.
Under the scheme, company shareholders will receive AU$5 per share, the filing said.
The company unanimously recommended that shareholders vote in favor of the scheme, provided there are no superior proposals and the independent expert maintains that it is in the shareholders' best interests, per the filing.
RPMGlobal shares rose more than 2% in midday trade Monday and earlier reached an all-time high.
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