Domain Holdings Australia Limited (ASX:DHG) Enters Exclusivity Deed with CoStar Group for Acquisition
Transaction Details
Domain Holdings Australia Limited (ASX:DHG) has entered into an exclusivity and process deed with CoStar Group, Inc. regarding CoStar’s proposal to acquire 100% of Domain’s issued shares for a cash consideration of $4.43 per share.
Recommendations and Conditions
Domain confirmed that its directors unanimously intend to recommend shareholders vote in favour of the acquisition, provided an independent expert concludes the transaction is in the best interests of shareholders and that the terms are no less favourable than CoStar’s proposal.
Exclusivity Period
CoStar has been granted access to a virtual data room starting today. The exclusivity period lasts four weeks, with a possible two-week extension upon written reconfirmation from CoStar. The exclusivity period can also be extended by mutual agreement between Domain and CoStar. The proposal remains subject to due diligence completion and other customary conditions.
Future Updates
The Domain Board will keep shareholders and the market informed as the transaction progresses. Shareholders are not required to take any action at this time.
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