Aspen Group Announces Off-Market Takeover Bid for Eureka Holdings

Aspen Group Limited (ASX: APZ) plans an off-market takeover bid for Eureka Group Holdings Limited (ASX: EGH) at a ratio of 0.26 Aspen securities per EGH share. This offer, an 11% premium to Eureka's net asset value, increased from a prior indicative offer. If successful, Aspen and Eureka securityholders would hold 73% and 27% of the merged group, respectively.

The deal is contingent on conditions outlined in Annexure A. Aspen asserts that the merger, creating a diversified entity with a nationwide footprint, would benefit both parties. Aspen highlights its successful track record, emphasizing a compound increase in NAV, EPS, and an average distribution yield. The bid awaits regulatory approval, with detailed information forthcoming in Aspen's Bidder's Statement.

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