Baycorp-Data Advantage to merge?

Baycorp chairman, Rosanne Meo, says details of the proposal have not yet been decided.

"The nature and structural form of any possible ties or merger have yet to be determined and that if or when any agreement is reached, a full announcement would be made to the market."

Baycorp is playing the cautious card over any possible merger.

"Baycorp would not enter any relationship that would put at risk its future performance and any decision
would be determined by the incremental value created for Baycorp shareholders," says Mrs Meo.

Data Advantage last Friday said merger discussions are preliminary and whether they progress depends on a number of factors.

"Data Advantage is a dynamic organisation which actively seeks and reviews opportunities for increasing shareholder wealth", said chairman Brian Gatfield.

"We will continue with our strategy of growth through strategic alliances and acquisitions."

Last September Baycorp took at 10% holding in Data Advantage at an average price of around A$4.60 per share compared with Friday's closing price of A$6.40.

Baycorp, Data Advantage and Commonwealth Bank own equal shares in the Australian joint venture, Alliance Group.

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