According to the company, the proposed price per share is $1.20 with no adjustment for the final dividend of $0.03 slated to be paid per share on 4 October.

"The CSG Limited board has not formd a view with respect to the proposal and recommends shareholders take no action at this time," an ASX statement on the takeover offer said.

CSG said it had engaged Macquarie Capital as its financial adviser in light of the offer.

Legal firm DLA Piper Australia had been engaged as the company's legal adviser.

"The Company ... will make further a announcement un due course," the statement said.