RHG shares in trading halt

RHG Ltd shares have been placed in trading halt as the group executes a revised merger implementation deed.

In a statement to the Australian Securities Exchange, RHG said its shares will remain halted until an announcement is made or the start of trade July 17, whichever is earlier.

RHG's board last week unanimously recommended a takeover bid from a syndicate comprising Resimac Ltd and Australian Mortgage Acquisition Company Pty Ltd.

However, two days later mortgage lender Pepper Australia launched a rival takeover offer (see Tom Elliott's RHG bid may need a top-up).