There’s been a speed bump in Latitude’s $335 million bid to buy Humm Group’s consumer finance business.
Street Talk has heard that Humm’s 20 per cent shareholder (and director) Andrew Abercrombie has demanded a copy of the register and has hired advisers.
Humm shareholders are still waiting on the deal’s explanatory memorandum, plus they get to vote later. But it feels as if Abercrombie has spotted something he doesn’t like.
What exactly he wants isn’t clear, but Latitude’s advisers would be prepping for the worst – a proxy fight or an attempt to block the shareholder vote.
Abercrombie’s advisers of choice were Arnold Bloch Leibler and MA Moelis. The pairing is a flashback to ARA Asset Management’s tilt at Cromwell Property Group.
Speaking of flashbacks, there was another one under way today.
Turns out AMP Capital’s infrastructure and real estate investors are putting Dexus through the paces over its bid – and that has sent investors replaying the Westpac-Hastings saga.
The ink’s barely dry on its deal to acquire VGI Partners, and the country’s busiest hedge fund manager already appears to be thinking about other opportunities.
