28th Jan 2021 20:25
Hunters Property PLC - Yorkshire-based estate agent - Says it and suitor Property Franchise Group PLC have reached an agreement on proposed takeover. Hunters had said it received a bid approach in December and in early January said negotiations were ongoing. On Thursday, Hunters says it has recommended the acquisition, which will be on the basis of 0.1655 Property Franchise shares plus 43.2 pence in cash for each Hunters share. The terms value each Hunters share at around 72.0p and the entire company at around GBP24.2 million. In addition, Hunters directors intend to declare a special interim dividend of 2.7 pence per Hunters share.
Hunters current stock price: 71.0 pence
Year-to-date change: up 1.8%
Property Franchise current stock price: 190.50p
Year-to-date change:up 0.8%
By Arvind Bhunjun; [email protected]
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