CQR’s takeover offer for HPI
Hi Charter Hall Retail (CQR) has had a takeover offer for Hotel Property (HPI) on the table for the best part of 3 months and even after increasing the amount of cash offered, removing the conditions and extending the acceptance date several times, they have still only got about 25% of the shares. It doesn't look likely (to me) that this deal will get over the line, so what do you think CQR is likely to do (a bit of crystal ball gazing I know). Will they just keep extending the acceptance date in the hope more shareholders eventually accept the offer or do they walk away and hang on to the shares they've got (presumably 25% would give them a seat or two on the board) or could they come back with an improved offer ( even though they said the last one was their best and final offer). Would they engage the HPI board to try and come to a deal? Regards, Carl
