News: RHG accepts Resimac bid

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RHG Limited (ASX:RHG) has unanimously accepted the Resimac Syndicate's sweetened takeover offer, which values the target at almost $153 million.

 

RHG says the syndicate will acquire all shares in RHG for cash consideration of 49.5 cents per share.

 

The offer was higher than the rival Pepper proposal and provides more value certainty for shareholders, RHG says.

 

Earlier this week, Resimac sweetened its takeover bid for RHG again in a bid to ward off a rival bid by Pepper. 

 

RHG generated a net profit of $30.3 million for fiscal 2013.