OMP oamps limited

re: up 12 pc on no news...pre open, page-5

  1. 187 Posts.
    re: wes offer 4.50 1
    Joint ASX Announcement
    Wesfarmers Announces $700 Million
    Recommended Cash Offer For OAMPS
    5 September, 2006
    Highlights:
    􀂃 A conditional cash offer of A$4.50 per share for the entire
    issued capital of OAMPS Limited (ACN 006 743 719) valuing
    OAMPS equity at A$700 million
    􀂃 The Board of OAMPS has unanimously recommended the
    Wesfarmers offer in the absence of a superior proposal
    􀂃 Wesfarmers has a relevant interest in 9.8% of OAMPS
    ordinary shares through a combination of outright
    purchases and a pre-bid acceptance agreement
    􀂃 The offer represents a 29% premium to the OAMPS volume
    weighted average share price for the 90 trading days
    preceding this announcement
    􀂃 The OAMPS broking business will continue to operate
    separately from Wesfarmers’ combined underwriting
    businesses to maintain its independence in the market
    􀂃 The combined business will provide improved scale and
    penetration in specialist insurance areas with various
    platforms for growth. The Wesfarmers Insurance Division
    will have pro forma 2006 gross sales of A$2.1 billion
    􀂃 Wesfarmers’ Bidder's and OAMPS’ Target's Statements are
    expected to be lodged shortly and to be dispatched to
    OAMPS shareholders in approximately 2-3 weeks, with the
    scheduled closing date of the offer expected to be before the
    end of October 2006 (unless extended)
 
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