(Adds details of deal in paragraphs 2-4)
July 26 (Reuters) - Australia's Pacific Current Group (PAC) received a non-binding buyout proposal from Regal Partners Ltd (RPL) , which values the asset manager at A$573.5 million ($388.1 million), the companies said on Wednesday.
Under the proposal, Pacific Current shareholders will get A$7.50 in cash per share and 2.2 shares of GQG Partners GQPIL.PK , which Regal manages, taking the total consideration to an implied value of A$11.12 per share.
This represents a premium of 42.6% to Pacific Current's last close of A$7.8.
An independent board committee will evaluate the proposal, Pacific Current said in a statement, adding that shareholders do not need to take any action in the mean time.
Shares of Pacific Current closed up 0.3% on Wednesday.
($1 = 1.4775 Australian dollars)
News: RPL UPDATE 1-Australia's Pacific Current receives $388 mln buyout offer form Regal Partners
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$3.00 |
Change
-0.010(0.33%) |
Mkt cap ! $1.016B | |||
| Open | High | Low | Value | Volume |
| $2.98 | $3.02 | $2.86 | $2.756M | 927.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7000 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.04 | 47485 | 1 |
View Market Depth
| Last trade - 16.12pm 30/07/2025 (20 minute delay) ? |
| RPL (ASX) Chart |