Feb 23 (Reuters) - Aspen Group Ltd (APZ) :
- Says received an unsolicited proposal from mill hill capital
- Aspen Group would acquire edward baillie capital hotel & leisure fund's hotel
/ motel portfolio and operations for $31.35 million
- Says mhc proposal is that Aspen Group would appoint john carter and david
dixon as joint chief executive officers of Aspen Group
- Would undertake an off-market buyback at a price of $1.20 per Aspen Group
security of up to 25% of Aspen Group issued capital
- Says mhc proposal is expected to be accretive to both earnings and
distributions
- Says has negotiated a six week period to undertake due diligence
- Mhc proposal has considerable merit to continue to progress with the
proposal"
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