Australian Unity Office Fund receives all cash proposal from Starwood

Company News

by Anna Napoli

Australian Unity Office Fund (ASX:AOF) has received an unsolicited, indicative and non-binding takeover proposal from Starwood Capital Asia.

Starwood is offering a price of $2.95 per unit plus accrued ordinary course distributions up to the date of scheme implementation.

The proposal represents a 9.7 per cent premium to AOF's closing price of $2.69 on the 5th of October.

The proposal is subject to a number of conditions including AOF and Starwood entering into a Scheme Implementation Agreement and AOF shareholder approval.

AOF says it intends to grant Starwood a period of up to four weeks to complete its due diligence and finalise its proposal.

Should a scheme Implementation Agreement be entered into the Directors of AOF intend to unanimously recommend that shareholders vote in favour of the proposal.

Shares in Australian Unity Office Fund (ASX:AOF) are trading 6.32 per cent higher to $2.86.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.