FleetPartners receives takeover offer from SG Fleet

• FleetPartners (ASX:FPR) received a non-binding acquisition proposal from SG Fleet for $3.60 per share.
• The company's shares traded higher following the market disclosure of the cash offer.
• The board remains focused on executing its current operational strategy while formally evaluating the bid.

FleetPartners received an unsolicited $3.60 per share offer from SG Fleet. The indicative proposal arrived after the market closed on July 31.

The potential transaction remains subject to customary due diligence and multiple regulatory authority approvals.

FleetPartners stated that there is no certainty this indicative proposal will result in a formal transaction.

Following the announcement, the FleetPartners share price was up at $3.28.

The company board is currently evaluating the acquisition offer alongside its legal and financial advisers.

FleetPartners stated the business will maintain its current strategy focused on delivering strong shareholder returns.