MacarthurCook board rejects revised takeover
The board of funds management group MacarthurCook has again rejected a takeover bid by AIMS Securities, despite the offer being sweetened to the tune of 16 per cent.
The MacarthurCook board announced to the Australian Securities Exchange (ASX) today that notwithstanding the increased offer price, it would be recommending to shareholders that they reject the offer.
“The board still believes that the revised offer undervalues the current business and opportunities before MacarthurCook," the ASX announcement said.
It said the board remained open to any superior proposals from parties with an interest in MacarthurCook and was open to recommending an offer that provided sufficient value to shareholders.
AUTHOR
Mike Taylor
Recommended for you
The profession is up by almost 200 advisers for the new financial year, with August continuing the consistent weekly positive gains.
WT Financial has announced its second “Hubco” with a combined valuation of $7.8 million, while its first one has successfully incorporated and is now making its own acquisitions.
The Australian Wealth Advisors Group has entered into a joint venture with a Melbourne financial services firm to launch a wealth manager.
Remediation and litigation costs have led AMP to announce a reduced statutory net profit after tax of $98 million for the first half of 2025.
