Abacus Property Group (ASX:ABP) and Charter Hall’s takeover of Australian Unity Office fund abandoned

Company News

by Anna Napoli

Abacus Property Group and Charter Hall’s plans to purchase the Australian Unity Office Fund will not go ahead.

It comes after shareholders did not provide enough support for the scheme at a meeting held yesterday.

The companies say it t is disappointing that, despite over 60 per cent of eligible votes cast being in favour of the resolutions, the scheme will not proceed and AOF unitholders have lost the opportunity to receive $3.04 per unit cash consideration.

The partnership announced on June 4 it was bidding for the Australian Unity Office Fund at $2.95 per share after it raided the register at that price.

Shares in Abacus Property Group (ASX:ABP) closed 2.04 per cent lower at $3.84 yesterday.


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.