Iress takeover – smoke but no fire
Financial planning software company Iress Limited found its share price surging and then retreating as it found itself having to hose down media speculation that it had finally received a takeover offer.
The company, which has been the subject of takeover speculation for most the past nine months, shoot from $8.97 early on Monday to a peak of $9.70 before retreating to xxx by the market’s close on Tuesday all because of the media speculation.
The rapid increase in the share price prompted a query from the Australian Securities Exchange on Monday ahead of the company first entering a trading pause, followed by a trading halt.
The company then, soon after the open on Tuesday, issued a statement in which it said the company “has no basis to confirm the statements made in The Australian’s Data Room article dated 24 November, 2025, referencing potential price and exclusivity terms relating to a potential acquirer of the Company”.
“Iress continues to engage with multiple parties in order to ascertain whether there is a proposal which could be recommended by the Iress Board and will continue to update the market in accordance with its continuous disclosure obligations,” it said.
Major private equity player Blackstone has long been speculated as likely to make a formal bid for Iress but despite lengthy due diligence a formal offer has yet to emerge.
Iress announced last month that it had opened a virtual data room to engage with multiple interested parties.
It`s a created Moral Hazard that is now out of control.
It seems that the DBFO legislation may be designed for advice to be built off vertical integration. I wonder where…
yet banks are lending to 19 year old tradies to buy $100k cars without anyone saying boo
Well those two obnoxious pieces of adviser taxation have significantly contributed to mt departure from ther FAR, as of today.
Gone are the days when individuals take responsibility for their own choices.