Aura Consolidated Group proposes A$972 million acquisition of Qoria
U.S. firm Aura Consolidated Group has proposed a takeover of Qoria at A$0.72 per share. The Qoria board has recommended shareholders vote for the deal.
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The United States 
US-based Aura Consolidated Group has proposed to acquire all existing shares of Australia 
AU-listed Qoria Ltd at an implied price of A$0.72 per share. This offer implies a total valuation of A$972 million for Qoria Ltd, a figure that represents more than double the last closing price of the stock. The board of directors at Qoria Ltdhas officially recommended that its shareholders vote in favour of the transaction.
US-based Aura Consolidated Group has proposed to acquire all existing shares of Australia AU-listed Qoria Ltd at an implied price of A$0.72 per share. This offer implies a total valuation of A$972 million for Qoria Ltd, a figure that represents more than double the last closing price of the stock. The board of directors at Qoria Ltdhas officially recommended that its shareholders vote in favour of the transaction.Under the terms of the proposal, Qoria Ltdwould become a unit of Aura, which is headquartered in Boston in the United States. Following the completion of the deal, the newly combined entity is expected to trade on the Australian Securities Exchange in Australiaunder the ticker symbol AXQ. The involved companies have stated that the combined group will be valued at A$3 billion before any external funding or equity raising activities are conducted.
