MENU

Gateway Lifestyle Group (ASX:GTY) shares down on takeover details

Shares in residential home estate developer Gateway Lifestyle Group (ASX: GTY) are down 0.8% today at $2.32 after more details emerge into the takeover offer from Hometown Australia.

Hometown today announced its intention to make a conditional, off-market, cash takeover offer for 100% of Gateway Lifestyle Group at $2.25 per stapled security.

The offer is less than a revised offer from Hometown on June 25, and less again than a counter off from Brookfield on June 21 to challenge Hometown’s initial play for takeover on June 13.

The Gateway Lifestyle board is currently considering the proposal and its implications for shareholders with investors no doubt craving some information on this one.

Elsewhere in the sector Ingenia Communities Group (ASX: INA) recently upgraded its FY18 EBIT guidance, with its share price rising 18% from $2.63 on June 20 to $3.11 on June 27.

Aveo Group (ASX: AOG) is in the red at $2.44 at the time of writing while Lifestyle Communities Limited (ASX: LIC) shares are up 1% to $5.74.

4 Stocks for Building Wealth After 50

Renowned investor Scott Phillips just released a brand-new report detailing his 4 favourite stocks to buy right now.

And I don’t know about you, but I always pay attention when some of the best investors in the world give me a stock tip.

This is your chance to get in at the very beginning of what could prove to be very special investments.

Click here to get started today!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.