Peter Hall accepts WHSP offer
Former Hunter Hall founder and chief executive, Peter Hall and his associated entities have accepted the Washington H. Soul Pattinson (WHSP) Bidder’s takeover offer under which it will buy all of the shares in Hunter Hall International Limited which are not yet owned by WHSP.
Following this acceptance, WHSP had a relevant interest in approximately 44.2 per cent of Hunter Hall shares.
Under the revised WHSP cash offer, the offer consideration would comprise an unconditional offer price of $2.60 cash per Hunter Hall share, which is expected to close on 21 March.
The independent directors of Hunter Hall recommended the shareholders to reject the WHSP cash offer and, according to them, the Pengana merger represented a “materially superior proposal for Hunter Hall shareholders”.
In order to reject the offer, Hunter Hall shareholders are required to take no action.
AUTHOR
Oksana Patron
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