Radius holders evaluate suitors

Shareholders in retirement home investor Radius Properties are mulling over a takeover offer from two competing suitors.

An offer from Mantagu Investment Holdings at 42c a share falls short of the 58c to 62c share range recommended in a Grant Samuel evaluation report.

The rival offer from a new company called Radius Residential Care is equivalent to 59c a share.

But there are complications with each offer. The Montagu offer is for the shares while the Radius Residential Care offer is for the assets.

More details will be published in the print edition of the National Business Review on Friday.

c.hutch@clear.net.nz

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