It was revealed earlier in the day that GUD Holdings, the parent company of Sunbeam, has officially announced its intentions to take over Breville Group Limited. But Breville has just warned its shareholders to not take any action as of yet.
In its release issued to the Australian Securities Exchange, Breville has announced that it is currently convening a Board meeting to consider GUD’s announcement and it will provide further advice in due course.
Up until an official announcement is made, Breville has advised its shareholders to ‘take no action’ in relation to the proposed takeover offer.
“Breville will keep its shareholders fully informed of further developments as they occur and will provide a formal recommendation on the offer in ample time for shareholders to make an informed decision,” said the company in the statement.