Peter Hall accepts WHSP offer
Former Hunter Hall founder and chief executive, Peter Hall and his associated entities have accepted the Washington H. Soul Pattinson (WHSP) Bidder’s takeover offer under which it will buy all of the shares in Hunter Hall International Limited which are not yet owned by WHSP.
Following this acceptance, WHSP had a relevant interest in approximately 44.2 per cent of Hunter Hall shares.
Under the revised WHSP cash offer, the offer consideration would comprise an unconditional offer price of $2.60 cash per Hunter Hall share, which is expected to close on 21 March.
The independent directors of Hunter Hall recommended the shareholders to reject the WHSP cash offer and, according to them, the Pengana merger represented a “materially superior proposal for Hunter Hall shareholders”.
In order to reject the offer, Hunter Hall shareholders are required to take no action.
AUTHOR
Oksana Patron
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
