Procurri: Second potential acquirer may bid for company’s shares

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Procurri Corp. said on Thursday that it has received a second, unsolicited expression of interest in acquiring the company, possibly via a voluntary general offer.

The second offer was from a third party “not in any way related” to the proposed acquisition announced earlier this month, Procurri said in a filing to SGX before the market open on Thursday.

The second possible deal is subject to due diligence, it said.

“Shareholders should note that no definitive agreements have been entered into and there is no certainty that the second possible transaction will be consummated,” it said.

Earlier this month, Procurri said New State Capital Partners, a U.S.-based private investment firm, provided a non-binding letter of intent (LOI) proposing to acquire all of the company’s shares, other than treasury shares and shares held by substantial shareholder Irrucorp.

At the time, the company said it had not accepted the LOI and discussions with New State were not exclusive.

It also noted that the LOI wasn’t a legally binding offer, and there was no assurance any transaction would materialize.

Procurri provides IT management services and data center equipment, including refurbished equipment. It offers supply-chain management, hardware resale and maintenance services

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