GTN (ASX:GTN) has announced that Viburnum Holdings Pty Ltd has made an off-market takeover offer to acquire all ordinary shares of GTN. The offer price is set at $0.465 per share. Viburnum Holdings has confirmed that this price will not be increased. The offer is scheduled to close at 7:00 pm Sydney time on 7 November 2024.
Viburnum Holdings, through its wholly-owned subsidiary, has launched an off-market takeover bid for GTN Limited, offering $0.465 per share. The offer period is set to end on 7 November 2024, but may extend if Viburnum's voting power in GTN surpasses 50% in the last week of the offer. Shareholders are encouraged to read the supplementary bidder's statement and consider consulting financial advisors. The move signals Viburnum Holdings' intent to consolidate its position in GTN, with a firm stance on the offer terms.
Viburnum Holdings will not increase the offer price and does not intend to extend the offer period unless legally required.