In today’s briefing:
- Hotel Properties (HPI AU): Charter Hall Declares Offer Unconditional
Hotel Properties (HPI AU): Charter Hall Declares Offer Unconditional
- Declaring its Offer unconditional was always a possibility as Hotel Property Investments (HPI AU) board continues to reject terms. The alternative was a likely deal fail.
- Charter Halls currently has 31.37%, including 6.66% via the acceptance facility. That facility has now closed following this unconditional statement.
- It will be challenging for Charter Hall to clear 50% without board support. But IF they get 50%+, expect the board to change their mind and recommend shareholders accept terms.
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