MoneySmart rejects MoneyHero’s S$8 million acquisition offer
The move follows MoneyHero’s recent round of layoffs to cut costs
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NASDAQ-LISTED MoneyHero Group has made a non-binding offer of US$8 million to acquire its competitor, MoneySmart.
However, MoneySmart on Friday (Aug 23) announced that it has rejected the unsolicited offer.
The board of the personal finance company unanimously determined that the approach was “neither serious nor credible”, and that it will not be entertained.
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