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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Mortgage Choice Limited | ASX:MOC | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.95 | 1.945 | 1.95 | 0.00 | 01:00:00 |
From May 2019 to May 2024
By Stuart Condie
SYDNEY--REA Group Ltd. proposes buying ASX-listed home loan broker Mortgage Choice Ltd. in a move the property advertiser said will leverage its large audience to build a leading broking business.
REA on Monday said its all-cash proposal was worth 1.95 Australian dollars (US$1.49) per share, representing a 66% premium to the stock's last closing price. It said the offer represented an enterprise value of approximately A$244 million.
REA said it would fund the transaction through an increase of its existing syndicated debt facilities. It expects to partially refinance its existing A$170 million facility, which is due to expire in December.
Mortgage Choice's independent directors have unanimously recommended the offer.
REA is 61% owned by News Corp., which also owns Dow Jones & Co., the publisher of this newswire and The Wall Street Journal.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
March 28, 2021 18:54 ET (22:54 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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