Brief: Arvida Aware Of Market Rumour That Co Subject Of Acquisition Approach

Arvida

14/12/2023 02:55

Dec 14 (Reuters) - Arvida Group Ltd  ARV.NZ :
    * BECOME AWARE OF A MARKET RUMOUR THAT ARVIDA HAS RECENTLY
BEEN
SUBJECT OF AN ACQUISITION APPROACH
    * CONFIRMS IT IS NOT CONSIDERING ACQUISITION APPROACH
    * CONFIRMS THAT IN SEPT 2023 AN OFFSHORE INFRASTRUCTURE FUND
APPROACHED ARVIDA ON CONFIDENTIAL BASIS
    * APPROACHED WITH A HIGHLY CONDITIONAL UNSOLICITED
NON-BINDING
PROPOSAL FOR ACQUISITION OF ALL OF ITS SHARES
    * DETERMINED TO NOT ENGAGE WITH PROPOSAL ON BASIS THAT
AMOUNT
OFFERED OF NZ$1.70 PER SHARE WAS NOT IN BEST INTERESTS OF ITS
SHAREHOLDERS
    * INFORMED SUITOR THAT IT DID NOT WISH TO ENGAGE FURTHER ON
PROPOSAL
    * ARVIDA HAS NO REASON TO BELIEVE UNSOLICITED PROPOSAL WILL
PROCEED ANY FURTHER


Further company coverage:  ARV.NZ 

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