Bidding war for RHG

The home-loan business is in the process of assessing the new proposal and urges its caution for its shareholders.

RHG has become the subject of a bidding war after receiving a competing proposal from specialist mortgage financier Pepper Australia.

Pepper is seeking to purchase all of RHG's shares through a scheme of arrangement at 46 cents per ordinary share, which it said would not be reduced by the fully-franked dividend of three cents per share that RHG had announced on Monday.

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