<WIRE> U.S. Company Innodata (ASX:INOD) Withdraws Buyout Proposal for Australian Software Firm Appen (ASX:APX) Due to Confidentiality Breach

Appen (ASX:APX), an Australian software company, recently confirmed that U.S.-based Innodata (ASX:INOD) has chosen to withdraw a non-binding indicative purchase proposal.

This statement came just days after Appen had released news of the proposal comprised of A$0.70 worth of Innodata shares for each share of Appen, calculated at an increase of over 100% of Appen’s share price at the time the indicative proposal was provided.

Appen, however, declined to reveal the actual value of the proposed offer or when the proposal was extended due to matters of confidentiality.

Further, Appen has reported that Innodata has pulled out from the Indicative Proposal since it was meant to remain confidential.

Appen is an Australian language, search, and social data provider specialized in the development of human-annotated datasets for machine learning and artificial intelligence.

View full chart on Save $30 on a Pro or Premium TradingView account

Save $30 on a Pro or Premium TradingView account

Supported by

<SPON> Trade share CFDs with Plus500

Global online trading services company, Plus500:

Plus500 trading platform allows you to trade shares from all popular markets such as USA, UK, Germany and more, with leverage and low spreads. Using our advanced trading tools, you can also control your profits and losses.

Plus500AU Pty Ltd, AFSL #417727 issued by Australian Securities and Investments Commission. Based in Sydney.


Subscribe to the newsletter

Receive whispers every day in your inbox.