WAM Leaders proposes off-market takeover bid for QV Equities

WAM Leaders Limited (ASX: $WLE) has announced its intention to make an off-market takeover bid for all of the issued fully paid ordinary shares in QV Equities Limited (ASX: $QVE), subject to certain conditions. Under the Offer, accepting QVE shareholders will receive 1 WAM Leaders share for every 1.4675 QVE shares they own, representing $0.951 per share of implied value for QVE shareholders.

Executive Commentary on Off-Market Takeover Bid

The proposed off-market takeover bid for QV Equities aligns with WAM Leaders' strategy to identify compelling investment opportunities. This offer aims to provide QVE shareholders with an attractive premium and potential value through the proposed acquisition. We believe this move will benefit both companies and their respective shareholders.

Summary of Off-Market Takeover Bid

WAM Leaders (ASX: $WLE) has proposed an off-market takeover bid for QV Equities Limited (ASX: $QVE), offering an implied value of $0.951 per share for QVE shareholders. The bid represents a premium of 5.0% to QVE's 30 January 2024 share price, 6.3% to QVE's one-month volume weighted average price (VWAP), and 8.9% to QVE's three-month VWAP. The Offer is subject to certain defeating conditions and may lead to a scheme of arrangement if an agreement with the QVE Board of Directors is reached. WAM Leaders aims to provide further information through a Bidder's Statement and believes this proposal aligns with its investment strategy.