Australia's Village Roadshow hits over 8-mth high on sweetened BGH offer

VRL Logistics

23/11/2020 01:34

** Shares of theme park operator  VRL.AX  jump as much as
16.7% to A$2.86, their highest since March 12
    ** Private equity firm BGH Capital increases takeover offer
for VRL by ~30% to A$585.9 mln ($428.76 mln)  urn:newsml:reuters.com:*:nL1N2I80KY (https://bit.ly/2IYFsZ5)
    ** Sweetened offer under structure A scheme represents a
premium of 22.4% to VRL's last close of A$2.45
    ** Under structure B scheme, BGH will offer VRL shareholders
A$2.95 per share, up from earlier offer of A$2.22 per share
    ** Spheria Asset Management, VRL's third-largest shareholder
with 7.8% stake, intends to vote for improved offer
    ** VRL stock marks biggest intraday pct jump since May 18
    ** Stock biggest percentage gainer in ASX All Ordinaries
index  .AORD 
    ** VRL down 35.5% this year, as of last close vs a 0.9%
decline in  .AORD 

($1 = 1.3665 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))