Aspen Group's Offer for Eureka Group Holdings Limited

Aspen Group Limited (ASX: $APZ) has successfully despatched its replacement bidder's statement and offers for the off-market takeover bid for Eureka Group Holdings Limited. The offer entails 0.26 fully paid ordinary stapled securities in Aspen Group for every 1 Eureka Share. The bidder's statement provides comprehensive details of Aspen's offer, its terms, and the benefits for accepting the offer. The offer is set to close at 7:00 pm (Sydney time) on 28 May 2024, unless extended or withdrawn. Eureka shareholders are encouraged to carefully review the bidder's statement and accept the offer at the earliest. The statement also encompasses crucial information about holding securities in Aspen Group, including associated risks and the offer's implications.

Executive Commentary on the Offer

Aspen Group has a proven track record of adding value through its fully integrated platform with strong ownership, operating, development, and capital management skills. The combined group resulting from this acquisition would be larger and more diversified, enhancing economies of scale and reducing risk. Aspen believes it can achieve superior returns from Eureka's portfolio and has outlined strategies to increase profitability, reduce risk, and generate superior returns for securityholders. The combined group is anticipated to have greater growth opportunities and a stronger balance sheet than if Eureka continues to operate independently. Aspen Securities are attractively priced at $1.76 per Aspen Security and have demonstrated the highest return on equity amongst its ASX listed peers.

Summary of Aspen Group's Offer and Outlook

Aspen Group Limited (APZ) has successfully completed the despatch of its replacement bidder's statement and offers for the off-market takeover bid for Eureka Group Holdings Limited. The offer entails 0.26 fully paid ordinary stapled securities in Aspen Group for every 1 Eureka Share. The bidder's statement provides comprehensive details of Aspen's offer, its terms, and the benefits for accepting the offer. The offer is set to close at 7:00 pm (Sydney time) on 28 May 2024, unless extended or withdrawn. Eureka shareholders are encouraged to carefully review the bidder's statement and accept the offer at the earliest. The statement also encompasses crucial information about holding securities in Aspen Group, including associated risks and the offer's implications. Aspen Group anticipates that the combined group resulting from this acquisition would be larger and more diversified, enhancing economies of scale and reducing risk. The company believes it can achieve superior returns from Eureka's portfolio and has outlined strategies to increase profitability, reduce risk, and generate superior returns for securityholders. The combined group is anticipated to have greater growth opportunities and a stronger balance sheet than if Eureka continues to operate independently. Aspen Securities are attractively priced at $1.76 per Aspen Security and have demonstrated the highest return on equity amongst its ASX listed peers. The company's ambitions include extracting superior returns from Eureka's portfolio and creating a stronger, more robust combined group. The outlook for the acquisition is positive, with Aspen aiming to leverage its integrated platform to drive growth and value creation within the combined group.