Subscribe to our newsletter

Reject takeover offers, says Hunter Hall

Reject takeover offers, says Hunter Hall

Reporter
— 1 minute read

Hunter Hall’s board has advised shareholders to reject the existing takeover offers made by Pinnacle Investment Management and Washington H. Soul Pattinson.

Over the last month, both Washington H. Soul Pattinson (WHSP) and Pinnacle Investment Management revised their takeover offers, increasing the bid price and removing a number of the previously set conditions

Hunter Hall (HHL) however, in a statement to the ASX, told shareholders they should reject both offers on the grounds that each “significantly undervalues” the shares.

“Both the WHSP revised takeover offer and the Pinnacle revised takeover offer represent a material discount to the estimated fair market value of HHL shares, which has been assessed by the independent expert to be $2.75 to $3.20,” the statement said.

The company’s independent directors “continue to explore all strategic options” available to shareholders, the statement said.

Read more:

Clime and Futuro enter into JV

BT adds super and insurance to Panorama

New chair for Templeton Global Growth Fund

Investors must scrutinise active managers: Pohl

Blockchain tops technology wish list 

 

Reject takeover offers, says Hunter Hall
investordaily image
ID logo

related articles

promoted stories