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Hotel Property Investments Ltd. ( (AU:HPI) ) has issued an announcement.
Hotel Property Investments Ltd. (HPI) has announced a takeover offer by Charter Hall Wholesale Management Limited, acting for Charter Hall Retail REIT and Hostplus, at $3.752 per security. The board has revised its recommendation for securityholders to accept the offer, despite initially considering it undervalued the company, due to the bidders acquiring 62.95% voting power. This acquisition allows the bidders significant control over HPI, prompting some board members to accept the offer, while others remain undecided. Changes in board composition will follow, with two current non-executive directors stepping down and being replaced by the bidders’ nominees, indicating a strategic shift in company leadership.
More about Hotel Property Investments Ltd.
Hotel Property Investments Ltd. operates in the real estate investment sector, focusing on the ownership and management of pub properties. The company is listed on the Australian Securities Exchange (ASX) and is known for its unique portfolio of pub properties that provide a steady stream of distributions.
YTD Price Performance: 0.27%
Average Trading Volume: 550,362
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$736.1M
Learn more about HPI stock on TipRanks’ Stock Analysis page.
