MHW Group Limited


Transaction Type: Takeover (Full)

Offeror: MHWG Joint Venture

Independent Adviser(s): Simmons Corporate Finance (Rule 21)

Offer commencement date: 12/06/2014

Offer closing date: 11/07/2014


MHW Group Limited (MHW) was an unlisted Code company. MHWG Joint Venture (MHWG JV) was an unincorporated joint venture between 13 of MHW’s shareholders. The 13 members of MHWG JV collectively held 92.59% of MHW’s total shares on issue and 92.40% of MHW’s voting shares.

MHWG JV made a full takeover offer for MHW with a closing date of 11 July 2014.  The offer consideration was $0.23 per share (the Offer).

The offer was subject to a 90% minimum acceptance condition. Given that MHWG JV already held more than 90% of the voting rights, satisfaction of this condition would occur on the acceptance of just one voting right into the offer. On 17 June 2014, the MHWG JV announced that the Offer had become unconditional and that MHWG JV had become the dominant owner of MHW.  On 27 June, MHWG JV issued a compulsory acquisition notice to acquire the outstanding shares in MHW.

The Offer closed successfully on 11 July 2014.


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