02:19 PM EDT, 04/02/2025 (MT Newswires) -- (Updates paragraph 1,2,3 and adds shares in paragraph 7)

Information Services Corporation ( IRMTF ) on Wednesday confirmed its board is aware of the tender offer by Plantro, a privately-held company, to buy up to 15% of Class A Limited Voting Shares of ISC.

Earlier in the day, Plantro announced an offer to acquire up to 2.78-million ISC Class A Limited Voting Shares at a price of $27.25 per Class A Share, payable in cash.

The company said its board is reviewing and "will assess this offer on its merits."

Plantro noted the tender price represents an attractive premium of approximately 10% to the $21.715 Tuesday closing price of the Class A shares and an approximately 9% premium to the volume-weighted average price of the shares over the prior 10 trading days. The total value of the tender offer, if fully taken up, is approximately $75.7 million.

Among highlights cited, the statement said Plantro's tender offer provides shareholders with "an opportunity to receive cash consideration in a stock that has been highly illiquid for many years".

Shares of ISC were last seen up $1.53 to $27.25 on the Toronto Stock Exchange.

Price: 27.34, Change: +1.62, Percent Change: +6.30