Hunter Hall: New bidder emerges as bidding war intensifies

Company News

by David Chau

Competition for control of ethical fund manager Hunter Hall International (ASX:HHL) is heating up.

Brisbane investor, Stuart McAullife, has now entered the bidding and offered to buy up to a 20% stake in Hunter Hall at $2.40 per share.

McAullife intends to make this acquisition through the investment companies he controls – John Bridgeman Ltd and Henry Morgan (ASX:HML). He has significantly outbid his competition so far.

Yesterday, Washington H. Soul Pattinson (ASX:SOL) raised its bid to $2.20 for each Hunter Hall share. This prompted Pinnacle Investment Management increased its offer to $2.20 per share (if it acquires 24% or more of Hunter Hall shares).

Hunter Hall posted a net profit of $19.1 million at 30 June 2016.

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