WAM Capital’s takeover over now unconditional

WAM Capital Wealth Defender Equities WDE merger acquisition takeover offer takeover bid share price delisting ASX

23 October 2018
| By Oksana Patron |
image
image
expand image

WAM Capital (WAM) has declared that its takeover bid for the entire issued share capital of Wealth Defender Equities (WDE) is now unconditional after earlier this month the independent directors of WDE had recommended its shareholders accept the offer, free of defeating conditions.

Under the terms of the agreement, all WDE shareholders who would accept WAM Capital’s offer before it closes on 26 October, would receive WAM Capital shares on 2 November, paid as a fully franked WAM Capital final dividend of 7.75 cents per share on 26 November.

At the same time, the firm warned those of its shareholders who chose not to accept the WAM offer that:

  • WDE’s share price was expected to fall,
  • WDE might be delisted from the Australian Exchange Securities,
  • And that they would not receive the fully franked WAM Capital dividend.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Interesting. Would be good to know the details of the StrategyOne deal....

3 days 21 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 1 day ago

increased professionalism within the industry - shouldn't that say, FAR register almost halving in the last 24 months he...

4 weeks 1 day ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 3 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

2 days 19 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

1 day 22 hours ago