(MENAFN- ProactiveInvestors - Australia) Core Services Group (ASX:CRV) has some potentially very interesting news on the horizon with the ASX today granting the company a trading halt pending a proposed acquisition.
Core Services has been placed in pre-open.
The company has around $2 million in cash and has recently indicated that 'its intentions to actively review new transactions that may or may not be in the same sector as its existing operations.'
Core said in September, 'The Australian operations will target acquisitions and partnerships with businesses and technology providers that have demonstrated strategic positioning within the onshore oil and gas infrastructure sector.'
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Tuesday 20th November 2012.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.