RHG offer 'inferior'
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Resimac has offered 49.5¢ cash per RHG share. But Pepper Australia and listed investment company Cadence Capital, which have a 17 per cent stake in the target, this week raised the cash component of their bid by 1¢ a share. The offer now comprises 36¢ a share in cash and one share in Cadence Capital for every 10 RHG shares.
Resimac said Pepper's revised offer pushed RHG shareholders into accepting shares in Cadence, which are not well traded. In response, RHG said it did not "endorse or comment on the statements by Resimac".
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