Charter Hall Wholesale Management Limited (ASX:HPI) Issues Fifth Supplementary Bidder’s Statement
Takeover Offer Update
Charter Hall Wholesale Management Limited, as trustee for the CH Investment Trust and CH Investment Co Trust, has released its fifth supplementary bidder’s statement concerning its off-market takeover offer for Hotel Property Investments (ASX:HPI). This follow-up statement confirms that the Bidder has secured a voting power of 63.7% in HPI, granting it significant control over the Board and operations.
Offer Details
The supplementary statement urges HPI securityholders to accept the all-cash offer of $3.752 per security, declaring it as best and final. The HPI Board has officially recommended that all securityholders accept the offer. HPI’s Chairman has also accepted the offer, reinforcing its credibility among stakeholders.
Implications for Securityholders
The Bidder warns HPI securityholders of potential risks if they choose not to accept the offer. If the Bidder gains 90% or more interest, they could compulsory acquire remaining securities, causing delays in receiving compensation for non-accepting shareholders. The offer is set to close at 7:00 pm Sydney time on 31 January 2025 unless extended.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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