Resimac lifts RHG offer

Resimac has sweetened its bid for RHG, the rump of mortgage lender RAMS, to 48¢ a share. The offer is a direct response to a rival bid last week by mortgage lender Pepper Australia, which also has its eyes on RAMS' loan book. RHG shareholders are now being offered 48¢ a share by Resimac, in addition to a 3¢ dividend the company plans to pay. It compares with a 46¢ a share offer by Pepper, which provides so-called white label mortgages via brokers. RHG's main asset is the lending book of RAMS. RHG shares closed up 2¢ at 51.5¢ each. Clancy Yeates