360 Capital moves to acquire Evans Dixon
360 Capital Group has made a takeover offer for Evans Dixon.
360 has announced to the Australian Securities Exchange (ASX) that it has made an offer to acquire Evans Dixon via an off-market takeover with the offer price valued at $0.61 per share.
360 said it believed the offer price represented compelling value for Evans Dixon shareholders representing a 142% premium on the company’s most recently reported net tangible assets and a 35% premium to the average price in which the bidder purchased its last portion of its 19.55% stake approximately six weeks ago.
The announcement noted that the trading price of Evans Dixon shares had decreased 79% since the company’s publicly listing in May, 2018.
Recommended for you
TAL has introduced four new courses to its Risk Academy focused on ethical dilemmas as part of Ethics Month to help advisers meet their CPD requirements.
Unadvised Australians believe they need $2 million to retire comfortably, according to Colonial First State, a wide variance compared to advised individuals which estimate $1.3 million.
Financial advisers can now access Vanguard’s diversified managed account strategies on HUB24 and Netwealth, marking a “significant expansion” through new distribution channels.
The heads of two financial advice licensees have joined the board of the Financial Services Council as it looks to deepen its engagement with the space and strengthen its representation.