Think agrees to exclusivity period extension as Busy Bees wraps up due diligence | Sector

Think agrees to exclusivity period extension as Busy Bees wraps up due diligence

by Jason Roberts

May 18, 2021

Think Childcare has confirmed that it has extended the exclusivity period given to Busy Bees Early Learning Australia to enable them to finalise due diligence and conclude the negotiation of a binding scheme of arrangement and other transaction documents in regards the acquisition of Think Childcare. 

 

Think’s Independent Board Committee (IBC) confirmed an initial exclusivity period expiring on 14 May 2021, 30 business days from the date of the confirmation that Busy Bees had revised their proposal for the Think Childcare Group. 

 

The new exclusivity period expiration will be on 31 May 2021 at 11:59 pm. 

 

Think has also confirmed that the parties are well advanced in negotiating the transaction documentation and that other than the extension of the exclusivity period, the terms of the Exclusivity Deed announced on 6 April 2021 remain unchanged.

 

To read the Think announcement, please click here.

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