Aevum: Instructions to shareholders to reject Stocklands $10m per village takeover bid
The board of Aevum has written to shareholders recommending they reject the highly opportunistic $266 million Stockland takeover offer. The offer is seen by the Board to undervalue the retirement operator and not take into account recent profit...
The board of Aevum has written to shareholders recommending they reject the highly opportunistic $266 million Stockland takeover offer. The offer is seen by the Board to undervalue the retirement operator and not take into account recent profit announcements or the successful merger with IOR Group and future profitability.
Aevum has 26 villages and is looking for a cash offer of $355m or $2 per share. This equates to under $14m per village which is a pretty reasonable price considering what the acquisition would mean to Stocklands portfolio.
