- Vitalharvest (VTH) accepted a Macquarie takeover bid on Monday, but its bidding war with Roc Partners continues as both companies submit new offers today
- This morning, Roc submitted its sixth offer to acquire all units in VTH for $1.25 per unit or the assets for $346.25 million
- Now Macquarie Agriculture Fund (MAFM) has upped their offer to $1.26 per unit or the assets for $348.1 million
- Vitalharvest, an ASX-listed A-REIT that invests across the agricultural supply chain, has been the subject of a bidding war between Macquarie and Roc Partners for the past few months
- The VTH board will consider the two proposals and will provide a further announcement to the market once it has done so
Vitalharvest (VTH) accepted a Macquarie takeover bid on Monday, but its bidding war with Roc Partners continues as both companies submit new offers today.
This morning, Roc submitted its sixth offer to acquire all units in VTH for $1.25 per unit or the assets for $346.25 million.
Now Macquarie Agriculture Fund (MAFM) has upped their offer to $1.26 per unit or the assets for $348.1 million.
On Monday, the Vitalharvest Freehold Trust board recommended the MAFM takeover bid to the unitholders of $1.24 per unit, but the bid was subject to the absence of a superior offer.
Vitalharvest, an ASX-listed A-REIT that invests across the agricultural supply chain, has been the subject of a bidding war between Macquarie and Roc Partners for the past few months.
Macquarie originally offered $1 per unit or the assets for $300 million in early November 2020.
Then in February, Roc threw their hat in the ring, with a $1.08 per unit or $314.8 million offer.
Since then, it has been back and forth between the two companies, as they continued to one-up each other in an increasingly enthralling takeover battle.
The VTH board will consider the two proposals and will provide a further announcement to the market once it has done so.
Vitalharvest Freehold Trust has four berry and three citrus properties spread across New South Wales, Tasmania and South Australia.
Vitalharvest Freehold Trust was up 0.78 per cent to trade at $1.29 per share at the end of the trading day.