In today’s briefing:
- AVJennings (AVJ AU): Ho Bee Emerges with a Competing Offer
AVJennings (AVJ AU): Ho Bee Emerges with a Competing Offer
- Avjennings Ltd (AVJ AU) disclosed a competing non-binding proposal from Ho Bee Land Ltd (HOBEE SP) at A$0.70, a 4.5% premium to AVID’s A$0.67 offer.
- The potential for a Ho Bee competing offer was discussed in AVJennings (AVJ AU): Competing Offer Brewing.
- Despite the hefty premium to the undisturbed price, the Ho Bee offer is below NTA. Therefore, there is headroom for a bidding war as an offer at NTA implies A$0.81.
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