LandMark White offers $10.3m for Taylor Byrne
Written on the 8 October 2018 by Matt Ogg
LandMark White (ASX: LMW) continues its consolidation push in property valuation with a $10.3 million cash and scrip takeover bid for Taylor Byrne, a Brisbane-based company with 25 offices nationwide.
The move comes just over a year after the Sydney-headquartered group acquired another rival MVS for $35 million.
LMW has offered Taylor Byrne's shareholders around 11 per cent in the company with close to 8.6 million shares at a deemed value of $0.60 per security, along with $5.15 million in cash.
If approved by shareholders and the Australian Securities and Investments Commission (ASIC), one consideration share in LMW will be given for every 15.111 shares held in Taylor Byrne.
LandMark White currently has more than 40 offices across Australia and more than 300 staff, offering a wide range of services which include commercial and residential valuations, research and property advice.
Taylor Byrne has 25 offices and works throughout Queensland and New South Wales along with regular valuations in the Northern Territory and the Kimberly region in Western Australia.
Business News Australia
Author: Matt Ogg