Eumundi Group takeover offer update

Eumundi Group (ASX:EBG) has announced a revised takeover offer from SEQ Hospitality Group Pty Ltd. The new offer increases the price to $1.62 per share, up from the previous $1.55. This adjustment follows a formal notice with ASIC and amendments to the Implementation Deed.

Eumundi Group takeover offer summary

The Eumundi Group has received an increased takeover offer from SEQ Hospitality Group, raising the price to $1.62 per share. This offer represents a substantial premium over Eumundi's recent trading prices and net asset values. SEQ has secured necessary funding and ensured compliance with regulations for this revised offer. Eumundi's board is considering a dividend that will not affect the offer price. Shareholders are encouraged to review all provided materials and make informed decisions. If approved, SEQ will acquire all Eumundi shares. The deal marks a pivotal point in Eumundi's acquisition, offering shareholders considerable value and assurance of a fully funded, compliant offer.

Executive insights on increased offer

The increased offer price of $1.62 per share represents a significant premium over Eumundi's historical trading prices. This reflects SEQ Hospitality's commitment to the takeover and provides Eumundi shareholders with an attractive premium. Shareholders are advised to review all supplementary materials and legal documents before making a decision.