AIMS Securities Holdings is planning to make an off-market takeover offer for all the shares of MacarthurCook.
AIM, which already owns nearly 20 per cent of Macarthur’s shares, will offer 30 cents for each share. The offer is conditional on AIMS gaining an interest in 50 per cent of Macarthur’s shares. It represents a 156 per cent premium to the one-month volume weighted average price prior to AIMS’ initial acquisition of a 15.8 per cent stake in Macarthur, which was bought at 10 cents a share.
The offer is part of the company’s strategy to build up its real estate and fund management capabilities.
The vice chairman of AIMS Financial Group, Greg Bundy, said the offer was an attractive and straightforward proposal for MacarthurCook’s shareholders.
AIMS is a member of the AIMS Financial Group.
