RHG to make takeover decision
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Takeover target RHG (RHG), formerly RAMS Mortgage Corp, has entered a trading halt ahead of its decision on rival bids put by a Resimac-led syndicate and Pepper Australia in offer with Cadence Capital .
Earlier this week, Resimac again sweetened its takeover bid for RHG in an attempt to stymie a rival bid put by Pepper Australia and the target's largest shareholder.
The Resimac-led syndicate increased its all-cash offer to 49.5 cents per share, from 48 cents - which was already an increase of 3.9 cents per share over its original offer.
The move came after spurned suitor Pepper Australia joined forces with Cadence Capital, the largest shareholder of RHG, to put an increased offer of 49.65 cents a share, in cash and Cadence scrip.
The competing offers have both been made under schemes of arrangement.
RHG today requested the halt until Friday at the latest, "pending a release of a market sensitive announcement regarding a possible transaction".
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