Australian property developer and manager Thakral Holdings Group
(ASX:THG) says its takeover offer received from Toronto based Brookfield Asset Management Inc (NYSE:BAM) last week undervalues the company.
The Canadian asset manager made a conditional takeover offer of $410 million.
Thakral says it is yet to receive Brookfield’s bidders statement and has advised its security holders to take no action in relation to the offer.
In the 2012 financial year, Thakral reported a net profit $659,000.
