Yesterday Aveo announced to the market that it is actively engaged with a preferred party who has made a confidential non-binding and conditional indicative proposal to enter a whole of company sale transaction.

Aveo states that if a scheme of arrangement cannot be agreed by Monday 22 July, the whole sales transaction process will be discontinued.

Aveo states: “There is no certainty that the Indicative Proposal will result in an acceptable offer for Aveo security holders or that a transaction will be implemented”.

The Sydney morning Herald is wagering that it is “Brookfield narrowing as the buyer of the $1.2 billion listed business”.