Costa Mulls Paine Schwartz's Lower Bid

Sep 18, 2023

∙ Paid

Back on the 4 July, Paine Schwartz Partners (PSP) made an A$3.50/share NBIO for Costa Group (CGC AU) by way of a Scheme. PSP held 14.84% at the time.
The due diligence period came and went, or so it appeared, but Costa said it remained ongoing. Rumours circulated that PSP had gone cold. 1H23 results were also delayed.
Costa has now announced this morning that PSP has returned with a $3.20/share Offer - best and final - reduced for any permitted dividend of up to A$0.04, if declared.

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