Westfield, Multiplex and Reuben brothers´ bid for Duelguide Plc goes unconditional (AU/UK)

The Westfield Group (ASX:WDC) and a new company owned by Multiplex (ASX:MXG) and companies associated with David and Simon Reuben have received acceptances for 97.3% of the shares of Duelguide plc, the company which owns the former London listed Chelsfield plc.

As a result of these acceptances, the offer for Duelguide is now unconditional and has been extended for a further 14 day period as required under UK procedures. Thereafter it is intended to compulsorily purchase any outstanding Duelguide shares.

In October, Westfield, Multiplex and companies associated with the Reuben brothers announced a firm offer to acquire Duelguide for £585 million (A$1.4 billion). The offer valued Duelguide at around £2.2 billion (A$5.5 billion) on an enterprise value basis.

As part of the transaction, Westfield’s investment (including assumed debt) includes a high-quality retail portfolio totalling approximately £1.2 billion (A$3.0 billion). The deal also provides Westfield with an extra approximate £1.8 billion (A$4.4 billion) of future development opportunities.

Source: Westfield

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