Pepper Money Rejects Challenger $706 Million Takeover Bid
Pepper Money rejected a $706 million takeover bid from Challenger today. The board stated the proposal was not reasonably capable of being executed as offered.
Xurve View
Xurve View
The board committee of Pepper Money has rejected a takeover proposal from investment manager Challenger, which valued the company at A$1.01 billion ($706.09 million). The Australia-based non-bank lender stated on Wednesday that the bid did not meet the necessary criteria to proceed toward a finalized agreement.
In its assessment, the committee found that the unsolicited offer lacked the necessary framework for a successful transaction.
