Washington H. Soul Pattinson and Company Limited (ASX:SOL) (WHSP) announced on 30 December 2016 its intention to make an offer to acquire all of the shares in Hunter Hall International Limited (ASX:HHL) for $1.00 by way of an off-market takeover (WHSP Takeover Offer).
The WHSP Takeover Offer of $1.00 represents a material discount to HHL’s prevailing share price being a:
- 67.7% discount to HHL’s share price prior to close on 30 December 2016
- 69.1% discount to the 30 day HHL’s 30 day volume weighted average share price up to 30 December 2016
- 60.0% discount to HHL’s share price on 3 January 2017
WHSP announced the WHSP Takeover Offer after Peter Hall agreed to sell a 19.9% interest in HHL to WHSP. Peter Hall owns a further 24.05% of HHL issued shares and has indicated his current willingness to accept the WHSP Takeover Offer if a superior proposal does not eventuate.
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