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.