Pepper slams Resimac on bid

Group accuses rival of 'inaccurate' statements in its takeover attempt.

Pepper Australia has criticised rival Resimac Syndicate over "inaccurate statements" in its bid for RHG (RHG).

In a statement, Pepper CEO Patrick Tuttle said Resimac's announcement this week that its offer was in the best interests of shareholders contained "highly speculative and subjective" statements.

"It is preposterous to suggest that our cash and scrip offer is simply inferior by definition," Mr Tuttle said.

"We believe we have presented RHG's shareholders with a highly credible and straightforward proposition which values RHG at 51 cents per share based on yesterday's Cadence Capital Ltd closing price of $1.50.

"This compares to the lower all cash offer of 49.5 cents per share offered by the Resimac Syndicate."