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Aevum considering $320m takeover offer

Aevum considering $320m takeover offer

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.

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Tags StocklandMergers and acquisitionsAevum

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