360 Capital Group (ASX:TGP), an ASX-listed investment and funds management group focused on strategic and active investment management of real estate assets, has addressed the takeover offer from TT Investments. TT Investments lodged a bidder’s statement earlier today for an unconditional on-market takeover bid for all securities in 360 Capital Group that it does not currently own, offering $0.31 cash per stapled security. According to the announcement, the consideration is the same as TT Investments’ previous off-market takeover bid. However, this takeover is on-market, with consideration paid on a T+2 basis, consistent with the standard ASX settlement process.
The Independent Board Committee (IBC) of 360 Capital Group, chaired by Non-Executive Director and Deputy Chairman David van Aanholt, has met to assess the new takeover offer. Clayton Utz has been retained as the IBC’s legal advisors. Given that the consideration is identical to the previous offer and that the 360 Capital business has not changed materially since the close of the previous takeover, the IBC has maintained its unanimous recommendation. The IBC advises TGP Securityholders to ACCEPT the new takeover offer by TT Investments, unless a superior offer emerges.
The IBC also noted that the Independent Expert, Grant Thornton, previously concluded that the prior offer from TT Investments was fair and reasonable to securityholders in the absence of a better offer. The IBC has stated it will keep securityholders informed of any significant developments as they occur.
Furthermore, 360 Capital Group announced the suspension of its proposed Minimum Holding Buy-Back of unmarketable parcels of securities, which was initially announced on 5 December 2025. Eligible securityholders will not be able to participate in the Buy-back, and no securities will be acquired or cancelled unless the Board determines otherwise and releases an updated announcement.
