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NorthWest calls vote on $2.7b bid for Australian Unity fund

Nick Lenaghan
Nick LenaghanProperty editor

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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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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com

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    Original URL: https://www.afr.com/property/commercial/northwest-calls-vote-on-2-7b-bid-for-australian-unity-fund-20210531-p57wku