ESR takeover bidders statement released

Company News

by Anna Napoli

Propertylink (ASX:PLG) takeover bidder, ESR has provided a bidders statement to Propertylink shareholders.

The Asian logistics platform lobbed a cash offer of $1.15 per share for the company in September and has since upped its offer to $1.20.

Last week the two companies entered a binding implementation agreement whereby ESR will acquire all shares it doesn't already own.

The Propertylink board has unanimously recommended that shareholders accept the offer.

Shares in Propertylink (ASX:PLG) closed 0.42 per cent lower to $1.18 yesterday.