Aveo (ASX:AOG) urges shareholders to accept Brookfield offer

Company News

by Anna Napoli

Retirement and aged care company, Aveo (ASX:AOG) has reiterated calls to shareholders to accept the takeover offer from Brookfield before the 4 November proxy vote cut-off.

Canadian private equity giant Brookfield offered $2.195 a share to Aveo's owners. The agreed amount includes a 4.5 cent per security annual distribution that was to be paid in September.

The cash offer represents a 28 per cent premium on Aveo’s closing price of $1.71 on February 12. The company's closing price on Friday was $2.14.

Aveo says it will provide an update to the market once it has further information on whether the FIRB approval condition is satisfied.

Shares in Aveo (ASX:AOG) are trading 0.2 per cent lower at $2.14.