Centuria (CNI) $2.75 to buy /merge with Primewest (PWG) $1.535

CNI -0.72% & PWG +4.78%: We’ve also seen Centuria (CNI) lob a bid (calling it a merger) for Primewest (PWG). We’ve had involvement in both companies for a while and the deal makes sense. It will get the combined group to around ~$15bn of assets under management making the group Australia’s 3^rd largest fund manager. PWG security holders will get 20c plus 0.473 CNI securities, which based on CNI’s $2.77 price it values PWG shares at $1.51 i.e. a fairly slim premium.

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Primewest Group (PWG)

LAST UPDATED 19/04/2021 16:33

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Primewest Group (PWG)

LAST UPDATED 19/04/2021 16:33