Globalworth Real Estate Investments Ltd - real estate investor - Globalworth notes that on Thursday consortium of CPI Property Group SA and Aroundtown SA declared their takeover offer for Globalworth unconditional. The two received acceptances from holders of only 2.7% of Globalworth shares, but they already hold 51% of Globalworth shares between them, so can complete the deal by lowering the acceptance threshold to 50% from 90%.
Globalworth on Friday says: "The independent committee is considering this development together with its advisers and will make a further announcement in due course."
The company continues to advise shareholders to take no action until a decision is reached.
The EUR7-per-share cash offer values Guernsey-based peer Globalworth at EUR1.57 billion.
Globalworth current stock price: EUR7.02, up 5.6% on Friday
Year-to-date change: down 1.5%
Aroundtown current stock price: EUR6.68, up 2.6% on Friday
Year-to-date change: up 9.1
By Will Paige; willpaige@alliancenews.com
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Globalworth (GWI)