Hunter Hall: New bidder emerges as bidding war intensifies

Company News

by David Chau

Competition for control of ethical fund manager Hunter Hall International (ASX:HHL) is heating up.

Brisbane investor, Stuart McAullife, has now entered the bidding and offered to buy up to a 20% stake in Hunter Hall at $2.40 per share.

McAullife intends to make this acquisition through the investment companies he controls – John Bridgeman Ltd and Henry Morgan (ASX:HML). He has significantly outbid his competition so far.

Yesterday, Washington H. Soul Pattinson (ASX:SOL) raised its bid to $2.20 for each Hunter Hall share. This prompted Pinnacle Investment Management increased its offer to $2.20 per share (if it acquires 24% or more of Hunter Hall shares).

Hunter Hall posted a net profit of $19.1 million at 30 June 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.