Charter Hall’s Takeover Bid Faces HPI Resistance

Charter Hall Retail REIT (AU:CQR) has released an update.

Charter Hall Retail REIT and Hostplus have launched an off-market takeover bid for all securities in Hotel Property Investments (HPI), which has been met with resistance as HPI’s Board unanimously recommends shareholders to reject the offer, deeming it opportunistic and conditional. Shareholders are advised to take no action regarding the takeover correspondence and to consult with professional advisers if in doubt. All related announcements and the target’s statement can be found on HPI’s website, and a dedicated information line is available for shareholder inquiries.

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