G8 Education receives $0.26 per share takeover offer
Key points
- G8 Education received a non-binding takeover proposal from Majority Capital Partners at $0.26 per share.
- The offer represents a 160% premium to G8 Education's last closing price of $0.100 on Nov. 11.
- The board signed a process deed granting up to six weeks of exclusivity for due diligence.
G8 Education (ASX:GEM) entered into a process deed with Majority Capital Partners regarding a non-binding takeover proposal of $0.26 per share.
The offer represents a 160% premium to G8 Education's closing price of $0.100 on Nov. 11, following an 84.78% share price decline earlier in 2026.
Shareholders can elect to receive a mix of cash and shares in a new holding company, with the offer price reduced by any future dividends.
Following the announcement, the G8 Education share price was up at $0.20.
Majority Capital Partners secured bank and equity commitment letters for the full deal value and received up to six weeks of exclusivity, including three weeks of hard exclusivity.
The proposal follows a difficult period for G8 Education, which reported a $38.8 million half-year net loss in August and suspended operations at 40 centres.
In recent months, G8 Education extended its debt facilities to 2029, halted its dividend reinvestment plan, and exited the S&P/ASX 300 Index in September.
