Retirement village operator Aevum (ASX:AVE) has advised shareholders not to act on a $1.80 per share takeover offer from Stockland.
Aevum said it was considering the takeover bid, which values the company at $320 million. It advised its investors to wait until the board makes a decision to act on the offer.
The offer, for $1.77 a share plus entitlement to Aevum's $0.03 per share dividend, is unconditional and final. It will be open until September 30, unless extended.
Aevum shares are today trading 4.03% higher at $1.805.