The battle to take control of Hunter Hall International (ASX:HHL) has intensified, with Washington H. Soul Pattinson (ASX:SOL) raising its bid for the third time.
Soul Pattinson is now offering $2.20 per Hunter Hall share, provided that it acquires a 44% stake in Hunter Hall by 7.00pm this evening.
This bid is higher than Pinnacle Investment’s (ASX:PNI) most recent offer, which is $2.20 per Hunter Hall share (if it acquires a 24% stake in the investment fund).
Last week, Brisbane investor, Stuart McAullife, also placed a bid – to buy Hunter Hall shares at $2.40 per share – but only up to a 20% stake.
All of those offers fall below Hunter Hall’s market value. On Friday, shares in Hunter Hall closed 0.18% lower at $2.52 per share.