Charter Hall Bumps With Final HPI Bid

Oct 18, 2024

∙ Paid

Back on the 9th September, pub play Hotel Property Investments (HPI AU) announced - and summarily rejected - a A$3.65/share cash Offer from Charter Hall Retail Reit (CQR AU).
Charter Hall has now increased terms to A$3.85/share (best & final), a 17.7% premium to undisturbed. The Offer remains conditional on an 50.1% minimum acceptance condition. Charter Hall holds 14.7%.
HPI's reported response? "While Charter Hall’s improved offer provides an attractive exit for shareholders, we remain committed to evaluating all options that deliver the best long-term value."

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