Eildon Capital Group (ASX: EDC), a company focused on generating absolute returns from investment portfolios and strategies, has announced that its Independent Board Committee (IBC) intends to recommend that securityholders accept the revised takeover offer from Samuel Terry Asset Management Pty Ltd. The offer, initially announced on 8 September 2025, has been increased from $0.80 to $0.875 per stapled security. Eildon Capital operates as both an investment manager and a responsible entity.
The IBC’s intended recommendation is contingent upon the absence of a superior proposal and the independent expert continuing to opine that the offer is fair and reasonable. Several factors support the IBC’s position, including the offer representing a 24.1% premium to the closing price of EDC’s stapled securities on the ASX prior to the offer’s announcement, the limited liquidity of EDC’s stapled securities, and the certainty of value provided by the offer.
Further considerations include the absence of other superior proposals and the potential for increased influence by Samuel Terry Asset Management following the offer’s close. The Bidder has indicated its intention to remove EDC from the official list of the ASX, which could negatively impact liquidity and value for remaining EDC securityholders. The IBC also noted that EDC’s securities may trade below the Offer Price after the offer closes.
Eildon Capital securityholders wishing to accept the offer should refer to Section 7.3 of the Bidder’s Statement. The IBC intends to dispatch a Target Statement to EDC securityholders on 7 October 2025, outlining its detailed reasons and formal recommendation. Varun Sachdev, Chief Executive Officer, is available for further information.
