Gateway Lifestyle receives takeover offer from Hometown

Company News

by Anna Napoli

Gateway Lifestyle Group (ASX:GTY) has today announced it has received a confidential, indicative and non-binding proposal from Hometown Australia Holdings and Hometown America Communities.

Under the offer Hometown would acquire 100 per cent of the company at an indicative price of $2.10 per security.

The price would be reduced by the value of any dividends announced following receipt of the proposal.

Gateway Lifestyle has not agreed to provide due diligence access at this stage.

The company has advised security holders not to take any action at this point.

Shares in the Gateway Lifestyle Group (ASX:GTY) last traded at $1.83 on 12 June 2018.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.