G8 Education Limited
(ASX:GEM) says it will allow takeover offers to close and will vote all of its Affinity Education shares in favour of an Affinity Scheme of Arrangement involving Anchorage Childcare.
Under the Scheme of Arrangement Anchorage will acquire all of the ordinary shares in Affinity and Affinity shareholders will receive consideration of 92 cents for each Affinity share.
G8 Education currently owns 19.89 per cent of shares in Affinity.
The company has also entered into a voting deed with Affinity and has agreed not to extend the takeover offers and that the expiry date will remain the 28th of September.
In the half to 30 June, G8 Education reported a net profit of $28.24 million.
