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News: VRL UPDATE 1-Australia's Village Roadshow gets $517 million bid from Pacific Equity Partners

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    (Adds further details on the deal)

    Dec 19 (Reuters) - Australian theme parks and movie theatre operator Village Roadshow (VRL) said on Thursday it has received a conditional indicative takeover bid from Pacific Equity Partners for A$761.2 million ($517 million).

    The private equity firm's offer of A$3.90 per share represents a premium of 21.9% to Village Roadshow's Wednesday closing price. Shares of the company have been currently halted for trading.

    Pacific Equity said it was willing to offer a full cash consideration or a combination of cash and scrip in a newly incorporated acquisition entity, Village said.

    The Melbourne-based company said its largest shareholder and an associate of Pacific Equity have entered into a call option over about 19% of its issued shares.

    Village said it was in talks with Pacific and was ready to provide due diligence information.

    Pacific was not immediately available for comment.

    ($1 = 1.4736 Australian dollars)

 
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Last
2.2¢
Change
0.000(0.00%)
Mkt cap ! $6.151M
Open High Low Value Volume
2.2¢ 2.2¢ 2.2¢ $1.131K 51.42K

Buyers (Bids)

No. Vol. Price($)
4 98858 2.2¢
 

Sellers (Offers)

Price($) Vol. No.
2.3¢ 376591 2
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