Arvida U-turn points to shareholder pressure
ANALYSIS: In a remarkable change of heart, the retirement village operator’s board has endorsed a scheme it previously saw as lowball.
There seems to have been ‘one hell of a U-turn’.
It looks like someone has had a quiet word with the board of retirement village operator Arvida.
Consider the following sequence.
On December 14 last year, the company confirmed an approach from an overseas fund, saying its proposed offer of $1.70 a share was “not in the best interests of its
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