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.
AUTHOR
Mike Taylor
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