AUSTRALIA: Just Jeans Told To Accept Takeover Bid
Shareholders in Australian clothing retailer Just Jeans are deciding whether to accept a takeover bid from Catalyst Investment Managers. The planned takeover will complete the company's transition from a public to a private concern. Voting is scheduled to take place October 24th. Catalyst has offered $A1.35 per share, which is lower than Grant Samuel & Associates' independent valuation of $A1.39 - $1.64. However, as there is no alternative bid, Grant Samuel have recommended that Just Jeans' shareholders accept the offer, as the company's shares are unlikely to rise above $A1.35 without it.
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