Interesting article from today's afr:
Hungry IOOF stalking HUB24
Financial services firm IOOF Holdings is understood to be behind last week's mystery tilt at listed platform provider HUB24.
The $2.75 a share indicative offer, which has already been labelled as too low by some investors, makes strategic sense for IOOF on a string of measures. IOOF-backed broker and advisory firm Ord Minnett has a large amount of client money on HUB platforms, while IOOF-owned Bridges Financial Services' platform The Portfolio Service needs an overhaul and HUB could provide a solution.
While IOOF declined to comment, acquisitions are always top of mind for IOOF's chief Chris Kelaher as he reiterated to investors at the company's results in August.
Investors are seeking a figure well north of $3 a share and will be hopeful HUB24's early disclosure may flush out other suitors. It would make sense for AMP, Macquarie Group and netwealth Investments to also have a look.
Interesting article from today's afr: Hungry IOOF stalking HUB24...
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Last
66.0¢ |
Change
-0.005(0.75%) |
Mkt cap ! $250.6M | |||
| Open | High | Low | Value | Volume |
| 66.0¢ | 66.8¢ | 66.0¢ | $461.3K | 695.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4475 | 66.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 67.0¢ | 139465 | 3 |
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| PPS (ASX) Chart |
