Australia's Gateway Lifestyle backs Hometown offer: Reuters
Australian retirement village owner Gateway Lifestyle Group has recommended shareholders accept Hometown America Corp’s A$695 million (US$508.5 million) takeover offer, after a pursuit involving a rival suitor, Reuters reported. Hometown first made an offer in June at A$2.10 per share, valuing the firm at A$635 million. This was closely followed by Canada’s Brookfield Asset Management launching a A$2.30 per share offer for Gateway. Gateway initially rejected Hometown's offers, but appears to have changed its mind after Australia media reported that Brookfield was set to exit the race.
20 August 2018•1 min read
