It is only March, but there 6 ASX stocks have received takeover bids! What will happen to them?

6 ASX stocks that have received takeover bids already in 2025

Dropsuite (ASX:DSE)

Unlike other bids which we will list, this offer will be going ahead with this company having signed a binding deal and recommending to shareholders to vote for the transaction. It was not a big premium, with the share price being a 31% premium to the 10-day VWAP and an EV/ARR multiple of 7.8x.

But at least this cloud company won’t risk being the butt of jokes if it ever had a bad result, due to the resemblance between that would happen to the share price and the first part of its name. The bid was unveiled in January, and the company has since revealed CY24 results. It increased revenues by 34% to $41.2m, although its EBITDA retreated from $1.1m to $0.4m.

Cleanseas (ASX:CSS)

Cleanseas is a farmer and producer of Yellowtail Kingfish from its South Australian facilities. Yumbah Aquaculture, a company that produces abalone (a type of shellfish), was the bidder, offering $0.14 per share. Cleanseas is right now engaging with the deal, having granted Yumbah access to undertake exclusive due diligence and telling investors it intended to recommend the deal, subject to an independent export concluding that the proposal was in shareholders’ best interests.

The company’s latest results (for 1H25) were not good due to 45% lower harvest volumes and an 82% decline in frozen inventory. It sold 13% less tonnes, and its post-tax loss grew from $26m to $32.6m.

Domain (ASX:DHG)

This deal is the one that has shaken the markets the most. A $2.7bn for one of Australia’s two largest real estate classified stocks is big enough for that company. But also for Nine Entertainment (ASX:NEC) that has a 25% stake and surged too on news of the bid, as well as for better-performing rival Rea Group (ASX:REA) which declined 10%.

The bidder was Nasdaq-listed CoStar Group (NDQ:CSGP) a company that provides information, analytics, and online marketplace services – including online real estate market places. It made its mark by purchasing 16.9% of Domain shares at $4.20 per share. Domain has advised shareholders of the deal, but it has not made a call – it was assessing the proposal and would appoint advisers to help it.

Mayne Pharma (ASX:MYX)

Mayne Pharma, which is headquartered in Adelaide, specialises in womens health and dermatology (i.e. skin care), offering birth control and menopause treatments. It was offered US$672m/$7.40 per share from US pharmaceutical company Cosette which also has womens health and dernatology products. Mayne’s board has unanimously backed the bid. Unlike other companies on this list, this company is performing well financially. Its revenues for 1H25 increased 25%, (reported) EBITDA increased 48% and although it made a $20m loss after tax, this was a $50m improvement from 12 months ago.

Insignia (ASX:IFL)

Insignia is subject to a takeover war from both Bain and CC Capital which have both offered over A$3.3bn, and either could offer higher. Both parties have access to due diligence. Insignia was formerly known as IOOF and overseeas A$237bn in client assets, making it the third-largest player in Australia’s superannuation sector. It had previously been subject of interest of Brookfield, but it has all but dropped out of the bidding war.

Envirosuite (ASX:EVS)

Envirosuite has a Saas platform that provides environmental data and intelligence for various sector. Shares have more than halved between November 2021 and now, even accounting for the offer it received from Ideagen on February 25 at $0.10 per share, 133% ahead of the $0.043 per share it closed at the day before the offer. The company told investors it was in shareholders interests to engage with Ideagen further. The bid came at a time it was undertaking a strategic review of its direction. It closed 1H25 with $65.7m ARR (up 9.3%) and its maiden positive EBITDA result, albeit of only $0.2m.

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