Domain Grants CoStar Due Diligence Exclusivity
Domain Holdings Australia has signed confidentiality and exclusivity agreements with CoStar, allowing the US real estate firm due diligence access for four weeks. This follows CoStar's improved non-binding offer to acquire shares at AU$4.43 each, up from AU$4.20. The board recommends shareholders vote in favor of the transaction, pending no superior offers and support from an independent expert.
Domain Holdings Australia signed confidentiality and exclusivity agreements with CoStar, granting the US real estate firm due diligence access for four weeks, according to a Monday filing with the Australian bourse.
This follows CoStar's improved non-binding offer to acquire the company's shares for AU$4.43 each, compared with its earlier offer of AU$4.20 per share, via a scheme of arrangement, the filing said.
The company's board recommends that shareholders vote in favor of the proposed transaction in the absence of a superior offer and conditional upon an independent expert supporting CoStar's offer, the filing added.
