RedHill Education (ASX:RDH)
has ceased discussion with tertiary education business UCW. After several discussions, RedHill’s board of directors concluded that mutually accepted terms could not be reached.
On 14 December 2020, tertiary education business UCW announced an unsolicited off-market takeover for all shares in RedHill, for 4.5 UCW ordinary shares for each ordinary held in RedHill. The parties entered into reciprocal due diligence.
UCW has now informed RedHill that it does not intend to extend its offer, which will lapse on 2 July 2021.
Shares in Redhill (ASX:RDH)
are trading 2.5 per cent lower at $0.77.