Myndbio Pty Ltd signed a letter of intent to acquire IDT Australia Limited (ASX:IDT) for AUD 52.7 million on June 4, 2024. A cash consideration valued at AUD 0.15 per share will be paid by Myndbio Pty Ltd. The transaction is subject to negotiation and execution of an implementation agreement, approval of merger agreement by target board, approval of offer by acquirer board and consummation of due diligence investigation.