Allegro Funds Pty Ltd agreed to acquire Slater and Gordon Limited for AUD 77.6 million.
The transaction is subject to minimum tender including a Minimum Acceptance Condition requiring only that Allegro BidCo acquires a Relevant Interest in at least 50.1% of SGH Shares. and Slater and Gordon Limited board approval. As of February 24, 2023, The Offer has been unanimously recommended by the Slater & Gordon Board, with all directors of Slater & Gordon recommending that Slater & Gordon Shareholders ACCEPT the Offer. FIRB approval has already been obtained by the Allegro Fund Entities. As of March 24, 2023, the minimum acceptance condition has been fulfilled. As of April 3, 2023, the offer is unconditional. The Offer is scheduled to close on April 4, 2023, unless extended. As of April 3, 2023, the offer has been extended till April 11, 2023. Slater & Gordon is being advised by Flagstaff Partners and Minter Ellison. Kroll Australia Pty Ltd provided the fairness opinion to Slater and Gordon Limited. Adam Foreman, Chris Allen, Michael Catchpoole, Sandy Mak, Ian Dallen, and James North of Corrs Chambers Westgarth acted as Legal adviser, Faraday Associates Pty Limited Financial adviser and Link Market Services Limited Share registry in respect of the Offer to Allegro Funds. Computershare Investor Services Pty Limited acted as registrar to Allegro. Flagstaff Partners Pty Ltd acted as financial advisor to Slater and Gordon.