KKR and Domain Group have given PEXA’s shareholders something to think about.
What’s worth more: a fully funded and firm cash bid or an IPO process at a time when the market is softening and fund managers are gun shy?
The pair have stepped up the pressure on the shareholders, putting a time limit on their bid. They want them to accept the offer by this weekend, which is well before the IPO timetable.
It makes for an interesting couple of days in the PEXA camp. There are three shareholders, the smallest of which is CBA and is in on the Domain/KKR bid. Can Link and PEXA agree on what to do with their stakes?
