Aspen Group
(ASX:APZ) has acknowledged an unsolicited off-market takeover offer for Aspen Parks Property Fund by Beeston Accommodation Parks Trust.
Under the offer, the subsidiary of Sunsuper Superannuation Fund intends to acquire all securities of APPF at a cash price of $0.58 per share.
Aspen Group has noted its objective is to maximise value for securityholders. The company also said it considers the offer does go some way to recognising the value of the unique APPF portfolio.
The board committee of APPF will now undertake a detailed review of the offer and advise shareholders as appropriate.
Aspen Group recorded a net loss of $31.72 million at 30 June 2015.
