News: ELD Elders Ltd Says Entered Scheme Implementation Deed With Australian Independent Rural...

July 15 (Reuters) - Elders Ltd (ELD) :

• ENTERED INTO A SCHEME IMPLEMENTATION DEED WITH AUSTRALIAN INDEPENDENT RURAL RETAILERS
• DEAL FOR A$10.85 PER SHARE
• ACQUISITION CONSIDERATION COMPRISES 50% CASH AND 50% ELDERS SCRIP
• SCHEME HAS BEEN UNANIMOUSLY RECOMMENDED BY AIRR'S BOARD OF DIRECTORS IN ABSENCE OF A SUPERIOR PROPOSAL
• SCHEME TO ACQUIRE 100% OF AUSTRALIAN INDEPENDENT RURAL RETAILERS SHARES
• EXPECTED TO DELIVER LOW SINGLE DIGIT EPS ACCRETION ON FY19 PRO FORMA BASIS BEFORE SYNERGIES AND LOW DOUBLE DIGIT EPS ACCRETION POST SYNERGIES
• CO FUNDING ACQUISITION VIA A$137 MILLION EQUITY RAISING AND ISSUE OF A$79 MILLION OF NEW ELDERS SHARES TO AIRR SHAREHOLDERS AS SCRIP CONSIDERATION
• ASSUMES $8 MILLION OF NET SYNERGIES BASED ON MID-POINT OF ESTIMATED RANGE OF $6.6 - 9.3 MILLION; EXCLUDES ONE-OFF IMPLEMENTATION COSTS

Source text : http://bit.ly/2jSzyME

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