Australian Unity Office Fund
(ASX:AOF) has received an unsolicited, indicative and non-binding takeover proposal from Starwood Capital Asia.
Starwood is offering a price of $2.95 per unit plus accrued ordinary course distributions up to the date of scheme implementation.
The proposal represents a 9.7 per cent premium to AOF's closing price of $2.69 on the 5th of October.
The proposal is subject to a number of conditions including AOF and Starwood entering into a Scheme Implementation Agreement and AOF shareholder approval.
AOF says it intends to grant Starwood a period of up to four weeks to complete its due diligence and finalise its proposal.
Should a scheme Implementation Agreement be entered into the Directors of AOF intend to unanimously recommend that shareholders vote in favour of the proposal.
Shares in Australian Unity Office Fund
(ASX:AOF) are trading 6.32 per cent higher to $2.86.
