Resimac knocks rival RHG bid

Syndicate says rival bid from Pepper, Cadence not in best for shareholders.

Pepper Australia and Cadence Capital's (CDM) sweetened takeover bid for RHG (RHG) is not in the best interests of shareholders, according to rival bidder the Resimac syndicate.

In a statement to the Australian Securities Exchange earlier this week, Pepper and Cadence said their counterproposal is worth 50.8 cents per share, higher than the Resimac Syndicate's offer of 49.5 cents per share.

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