RHG accepts fresh Resimac bid

RHG (RHG) has agreed to a sweetened takeover bid from the Resimac Syndicate and its shares have been reinstated to official quotation.

In a statement to the Australian Securities Exchange, RHG confirmed it had reached agreement on a 50.1 cents per share cash offer from Resimac and the Australian Mortgage Acquisition Company.

The parties aim to implement the transaction by January 6, with an end date of February 28. 

The break fee and reverse break fee have been increased from $1.6 million to $1.64 million, considering increased transaction costs incurred to date.