Company News Summary | 12 Oct 2017
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Mantra Group Announces Scheme of Arrangement with AccorHotels
10:12:00 | Associate analysts
Original annuncemenet:Scheme of Arrangement with AccorHotels
Mantra Group announced that it has entered into a binding agreement with Accor S.A. (AccorHotels) whereby AccorHotels will acquire all of the shares of the Company at a price of A$3.961 cash per share (on a fully diluted basis), including a potential special dividend, by way of a scheme of arrangement (Scheme). A Scheme Implementation Agreement (SIA) has been signed to give effect to this Transaction. Under the terms of the Scheme, Company's shareholders will be entitled to receive A$3.96 cash per share (Cash Consideration) subject to all applicable conditions being satisfied or waived and the Scheme being implemented. The Cash Consideration represents an implied market capitalisation of A$1,182.2m.
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