Brierley's Mercantile Investment lifts offer for Adelaide Managed Funds

Tue, 07 Aug 2012

By Paul McBeth Aug. 8 (BusinessDesk) - Veteran corporate raider Ron Brierley's latest investment vehicle has lifted its offer for an Australian managed investment scheme in wind-down mode after missing with an opportunistic bid last year. Mercantile Investments Co is offering 5.5 Australian cents per share in Adelaide Managed Funds Asset Banked Yield Trust for the 87 percent of units it doesn't already own, valuing the investment fund at A$5.18 million. The offer matches Adelaide Managed Funds' net tangible asset as at June 30, and is an i...

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