MG hoses down sale speculation

21 Sep, 2017 03:43 PM
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Units in the MG Unit Trust were trading at 91.5 cents on Thursday, up from 62.5 cents a month ago.
At this point, it is too early to make any comment about valuation or implementation.
Units in the MG Unit Trust were trading at 91.5 cents on Thursday, up from 62.5 cents a month ago.

Murray Goulburn has moved to hose down media speculation it has been offered $1.20 per unit for units in the MG Unit Trust.

In a statement to the Australian Stock Exchange on Thursday, MG said it noted the recent media speculation regarding its previously announced strategic review.

"MG confirms that it has received a number of confidential, non-binding indicative proposals," the company said.

"These proposals have ranged from the sale of certain assets to whole-of-company transactions.

"No offer has been received for the units in MG Unit Trust for $1.20 per unit, as speculated in the media."

The company said it and its financial advisor Deutsche Bank AG were engaging with a number of parties to assess their proposals,

including valuation.

"At this point, it is too early to make any comment about valuation or implementation," MG said.

There was no certainty that any transaction would eventuate, it said.

Units in the MG Unit Trust were trading at 91.5 cents on Thursday, up from 62.5 cents a month ago.

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