Washington H. Soul Pattinson raises bid to $2 per share for Hunter Hall

Company News

by David Chau

The competition to acquire Hunter Hall International (ASX:HHL) is heating up –with Washington H. Soul Pattinson (ASX:SOL) raising its offer to $2.00 per share.

At this price, Soul Pattinson is matching the price of its rival bidder, Pinnacle Investment Management.

Although both of these offers are unconditional, they are less than Hunter Hall’s market value – which was $2.43 per share at the close of trade yesterday.

Yesterday, shares in Washington H. Soul Pattinson closed 0.94% higher at $16.08.

The company posted a net profit of $129.5 million at 31 July 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.