Japan's Lifull to buy Australian classifieds firm Mitula for $140 mln
09/05/2018 10:10
May 9 (Reuters) - Australian digital classifieds company
Mitula Group MUA.AX said on Wednesday Japanese real estate
portal Lifull Co 2120.T agreed to buy the company for about
A$188.3 million ($140 million) and merge it with Lifull's online
classifieds unit.
Mitula shareholders will receive 0.0753 Lifull share for
each share held. This values Mitula at about A$0.8742 per share,
a premium of about 95 percent, based on the stocks' close on
Wednesday.
Mitula said its board recommended shareholders to vote in
favour of the agreement, in the absence of a superior proposal.
(1 Australian dollar = 81.6579 yen)
($1 = 1.3443 Australian dollars)
(Reporting by Ambar Warrick in Bengaluru; Editing by Gopakumar
Warrier)
((Ambar.Warrick@thomsonreuters.com; +91-80-6749-6625; Reuters
Messaging: ambar.warrick.thomsonreuters.com@reuters.net))