(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)
News: VRL UPDATE 1-Australia's Village Roadshow gets $517 million bid from Pacific Equity Partners
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Last
2.3¢ |
Change
-0.001(4.17%) |
Mkt cap ! $6.437M | |||
| Open | High | Low | Value | Volume |
| 2.4¢ | 2.4¢ | 2.3¢ | $116.3K | 4.998M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 288273 | 2.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 1860000 | 2 |
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| VRL (ASX) Chart |