Overview of Aspen Group's takeover bid for Eureka Group Holdings Limited

Aspen Group Limited (ASX: $APZ) has issued a replacement bidder's statement dated 15 March 2024 for its off-market takeover bid for all the current and to be issued ordinary shares in Eureka Group Holdings Limited (ASX: $EGH). The offer includes 0.26 Aspen Securities for each Eureka Share. The bidder's statement provides detailed information about the offer, including the implied value of the Aspen Offer, the benefits of accepting the offer, the bidder's intentions, and the conditions of the offer.

Executive commentary on the replacement bidder's statement

The bidder's statement also provides information on Aspen Group's business model, its history, management team, and portfolio investment return drivers. It outlines Aspen's strategy for creating affordable housing and its focus on making higher returns than the general residential market. The statement includes a summary of the real growth in rents and prices across CoreLogic's Home Value and Rent Indices over the past 10 years. The bidder's statement also addresses frequently asked questions about the Aspen Offer, including the value of Aspen Securities, the offer period, how to accept the offer, the ranking of Aspen Securities, tax consequences, brokerage fees, and stamp duty. It also provides information on the bidder and Aspen Group, including the bidder's business model, history, management team, and portfolio investment return drivers.

Summary of Aspen Group's replacement bidder's statement and outlook

Aspen Group Limited (APZ) has provided a replacement bidder's statement for its off-market takeover bid for Eureka Group Holdings Limited, offering 0.26 Aspen Securities for each Eureka Share. The statement outlines the implied value of the Aspen Offer, the benefits of accepting the offer, the bidder's intentions, and the conditions of the offer. Additionally, the bidder's statement provides insights into Aspen Group's business model, its history, management team, and portfolio investment return drivers. The company's strategy for creating affordable housing and its focus on higher returns than the general residential market are highlighted. Shareholders are also provided with detailed instructions for accepting the Offer through online or paper submission. The Offer Period ends on 28 May 2024, and the announcement outlines the potential risks and intentions related to the acquisition, including strategic review, participation in the Eureka Board, and implementation of intentions consistent with obtaining control of Eureka.