Hunter Hall bidding war continues with raised offer

Company News

by David Chau

The battle to take control of Hunter Hall International (ASX:HHL) has intensified, with Washington H. Soul Pattinson (ASX:SOL) raising its bid for the third time.

Soul Pattinson is now offering $2.20 per Hunter Hall share, provided that it acquires a 44% stake in Hunter Hall by 7.00pm this evening.

This bid is higher than Pinnacle Investment’s (ASX:PNI) most recent offer, which is $2.20 per Hunter Hall share (if it acquires a 24% stake in the investment fund).

Last week, Brisbane investor, Stuart McAullife, also placed a bid – to buy Hunter Hall shares at $2.40 per share – but only up to a 20% stake.

All of those offers fall below Hunter Hall’s market value. On Friday, shares in Hunter Hall closed 0.18% lower at $2.52 per share.

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.