Just released, the Dark Blue Sea (DBS) board has agreed to the renewed takeover offer of 35 cents per share by Photon Group (PGA). Each DBS director has confirmed that they will be accept the revised Photon offer for all DBS shares in which he they have relevant interests. This represents approximately 20.3% of the issued capital of DBS.

This means that at long last Photon Group will manage to take-over DBS and complete the transaction that it started over 18 months ago. In my opinion this is great news for all parties concerned and will mean that both DBS and PGA will be able to concentrate more on providing value to customers than corporate machinations.

What will be interesting is to see what PGA does with DBS now that they’ve nearly secured it. I would imagine that after this victory PGA will be eager to get its teeth DBS’s performance and how it can leverage the large volumes of traffic into other businesses in the PGA group.

All I know is that I will be very interested in seeing where the share price ends up today and how far the 35 cent offer is exceeded if at all. In the meantime I would like to wish all those directly involved in the take-over all the best and in particular many of the great staff that I’ve come to know and respect at DBS over the years. I look forward to also getting to know many of the staff at PGA.

Click here to read the official announcement from PGA and DBS.

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