UBS appointed to advise on Challenger bid
UBS has been appointed to advise Challenger on the $1 billion unsolicited takeover bid received this week from UK-based Arkmile Limited.
Challenger told the Australian Securities Exchange this morning that the board of Challenger Listed Investments Limited, the responsible entity for Challenger Infrastructure Fund, had met to consider the takeover offer.
It said the board had appointed UBS as its financial adviser and Corrs Chambers Westgarth as its legal adviser to assist in the matter.
The announcement said that the board had determined to seek further details from Arkmile in relation to its non-binding offer and associated terms and conditions.
“Until the board has received the further details and is able to form a view on the merits of Arkmile’s non-binding offer, CIF security-holders are advised to take no action with respect to this offer,” the announcement said.
Recommended for you
Zenith Investment Partners has welcomed a BDM focusing on adviser solutions in a series of appointments, while two asset managers have also confirmed new hires.
AMP non-executive director Kathleen Bailey-Lord and Iress non-executive director Susan Forrester have been appointed to the national board of the Australian Institute of Company Directors.
Wealth manager JBWere has announced the launch of two fixed income strategies for wholesale clients, backed by UBS Asset Management.
Firetrail Investments has confirmed the departure of four executives over the last quarter, including head of investment strategy Anthony Doyle.