Augusta Capital Limited (NZX AUG) recently received an offer from Centuria New Zealand Holding Limited to acquire all of the shares of the company. In this response, the company has made a Target Company Statement (TCS), which sets out information about the Offer, the recommendation, and many other related things.
- The Implied TCS Offer Price is above the midpoint of the valuation range of Augusta established by the Independent Adviser;
- The Implied TCS Offer Price provides a premium to the trading price prior to the announcement of the Offer;
- The Implied TCS Offer Price remains attractive compared to the prior offer made by Centuria earlier in the year;
- The Offer provides shareholders with the opportunity to participate in a larger, more diversified company.