LandMark White (ASX: LMW) continues its consolidation push in property valuation with a $10.3 million cash and scrip takeover bid for Taylor Byrne, a Brisbane-based company with 25 offices nationwide.
The move comes just over a year after the Sydney-headquartered group acquired another rival MVS for $35 million.
LMW has offered Taylor Byrne's shareholders around 11 per cent in the company with close to 8.6 million shares at a deemed value of $0.60 per security, along with $5.15 million in cash.
If approved by shareholders and the Australian Securities and Investments Commission (ASIC), one consideration share in LMW will be given for every 15.111 shares held in Taylor Byrne.
LandMark White currently has more than 40 offices across Australia and more than 300 staff, offering a wide range of services which include commercial and residential valuations, research and property advice.
Taylor Byrne has 25 offices and works throughout Queensland and New South Wales along with regular valuations in the Northern Territory and the Kimberly region in Western Australia.
Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
Business News Australia
Get our daily business news
Sign up to our free email news updates.
Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support