Hotel Property Investments Ltd. (AU:HPI) has released an update.
Hotel Property Investments Ltd. (HPI) has advised its securityholders to reject the unsolicited takeover offer from Charter Hall Retail REIT and Hostplus, citing the offer’s inadequate premium and its undervaluation of HPI’s assets and future growth prospects. The Board is unanimously against the offer, which they deem opportunistic and substantially below the company’s net tangible assets and recent trading prices. Shareholders are recommended to ignore any communications from the bidders as the Board explores strategic options to maximize value.
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