Village Roadshow takeover talks continue

Village Roadshow takeover talks continue

Village Roadshow has extended the exclusivity period for its discussions around a takeover deal with BGH Capital for a further two weeks.

Village Roadshow, which operates well-known theme parks Warner Bros. Movie World, Wet’n’Wild and Sea World, along with a host of cinemas across the country, revealed to shareholders in May that it was in negotiations with the private equity firm over a potential privatisation takeover.

BGH, which recently failed in its bid for beleaguered airline Virgin Australia, had initially offered to acquire all of Village Roadshow’s shares by way of a scheme of arrangement at a price of up to $2.40 per share.

According to an ASX update yesterday by Village Roadshow, it has amended the transaction process deed with BGH, allowing a two-week extension to 28 July 2020.

Village Roadshow had already extended the takeover talks by two weeks last month, and agreed to allow another two-week extension at the time if both parties continued to “actively pursue” the potential transaction.


Featured image source: Flickr/John

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