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2020
Australia
Court Approves $440 Million Takeover of Australia’s Village Roadshow
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variety.comPatrick Frater Asia Bureau ChiefAn Australian federal court on Tuesday gave its approval for a takeover of Village Roadshow Limited by private investors after a year-long battle that saw the company’s value rollercoaster almost as much as its theme park rides.A shareholder meeting last week gave its approvals for two, connected, takeover schemes put together by BGH, overcoming significant objections from a dissenting U.S.
investor, and winning the support of another. The court agreed to the Scheme A, which prices VRL’s ASX-listed shares at A$3 apiece, giving the company an implied valuation of A$585 million ($440 million).Following the court approval, share trading will end on Wednesday afternoon.
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