ALE receives takeover offer

ALE Property has received an all-cash takeover offer at $3.95 per share.

ALE Property has received an offer from Caledonia Investments – its largest shareholder with a 26% holding – to purchase the rest of its shares for $3.95 per share in cash.

Priced at a 9% premium to yesterday's close, amongst other things the offer is conditional on unanimous approval by the board in the absence of a better offer.


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