Domain (DHG AU): 4th August Vote On CoStar's Offer. Clean Deal

• Back on the 9th May 2025, Domain Holdings Australia (DHG AU) entered into a Scheme, at A$4.43/share (in cash), with CoStar, the same terms as the 27th March NBIO.

• Apart from the standard Scheme vote, this needs FIRB to sign off. Nine Entertainment Co Holdings (NEC AU) (60.05% shareholder) is supportive.

• The Scheme Booklet is now out, with a Scheme Meeting on the 4th August, and expected implementation on or before the 27th August. The IE (FGrant Samuel) says "fair & reasonable".

Conclusion

• With Nine's backing, this is a super clean deal.

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The Trade:

• This is done.

• Trading super tight at 0.9%. As it has done since the onset.

• If not in and/or cannot take advantage of the franking credits, this one is an avoid, unless the spread were to narrow.