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Gunns set to acquire assets of bankrupt Great Southern

Gunns set to acquire assets of bankrupt Great Southern

Timber company Gunns (ASX:GNS) looks set to secure the forestry assets of bankrupt company Great Southern, after submitting the most enticing offer.

Creditors for Great Southern Managers Australia today voted to put the majority of the company into receivership.

Meanwhile, the receivers and managers of Great Southern have indicated that they are most likely to select Gunns as the replacement owner of all or a majority of the company’s assets.

Gunns stock climbed 2.09% to $0.975 following the announcement.

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Tags WoodbankruptcyGunnsMergers and acquisitions

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