Battle lines form at RCU

That didn’t take long, did it? Just a few weeks after the ink dried on RCU’s capital raising, Greg Woolley has lobbed in a low-ball takeover offer for the trust at $0.46 per unit. The bidder’s statement is quite entertaining. We’re told the offer price ‘represents and internal rate of return of 61.8% with respect to those units acquired’ in the capital raising and ‘an internal rate of return of 92.3% with respect to those RCU units acquired’ through the sell down facility. In my business, ASIC doesn’t like people annualising short term returns. Rightfully so, when any miniscule...

That didn’t take long, did it? Just a few weeks after the ink dried on RCU’s capital raising, Greg Woolley has lobbed in a low-ball takeover offer for the trust at $0.46 per unit.

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