NorthWest calls vote on $2.7b bid for Australian Unity fund
Canada’s NorthWest Healthcare Properties has called a unitholder meeting to vote on its $2.7 billion buyout bid for the Australian Unity-run healthcare fund, losing patience with a fund manager it says has failed to engage with an offer which gives investors a 30 per cent premium on their investment.
Australian Unity Funds Management is expected to respond within days and, in the interim, has said it will not be rushed into a decision that has important ramifications for the 10,000 or so investors who rely on the fund’s distributions for their retirement earnings.
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