The $1.4 billion takeover offer for Smartgroup stands out for three reasons, one of which is the exclusivity on due diligence granted to the bidding consortium led by TPG Global.
There are at least three noteworthy aspects to the TPG-led consortium’s $1.4 billion cash takeover offer for salary packaging and leasing company Smartgroup Corporation.
First, the 31.7 per cent premium being offered by TPG Global, Potentia and Aware Super was enough to get the support of Smartgroup chairman Michael Carapiet and his fellow board members.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
