Corporate Action - Vote in Favour of Duet's Generous Takeover Offer
We recommend voting in favour of Duet Group's takeover at the scheme meeting on April 21, 2017, in the absence of a superior offer. The AUD 3.03 per share offer price is generous, representing a 44% premium to our DCF-based valuation of AUD 2.10, a 29% premium to the security price prior to the offer being made, and up to a 31% premium on the independent expert's valuation. Duet’s appointed independent expert values Duet at AUD 2.32 to 2.77 per share, which includes value for head office cost sa...
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