Henry Morgan Limited
(ASX:HML) has been approached by Brisbane-based investment firm, John Bridgeman Limited to acquire 100% of its shares in JB Financial Group.
The listed investment company, Henry Morgan, says the proposal to buy the JB Financial holding is for $7.90 per share, which equates to about $42 million [$42,265,000].
Based on the proposal 50 per cent of the purchase will be payable in cash, and a balance [$21,132,500] payable 12 months from completion.
Henry Morgan says the proposal is a 29 per cent premium on JB Financial’s most recently issued shares at $6.14.
Shares in Henry Morgan Limited
(ASX:HML) are trading 1.01 per cent higher to $2.00.
