Primelife buyout backed

Posted on: Tue, 03 Nov 2009 12:06:00 EST


Symbols: LLESY
Nov 03, 2009 (The Sydney Morning Herald - ABIX via COMTEX) --
LLESY | Quote | Chart | News | PowerRating -- Lend Lease Corporation's takeover offer for aged-care group, Lend Lease Primelife, has been supported by an independent expert. The property developer owns 43.2 per cent of Primelife and has offered $A0.31 per share for the rest of the stock, making the deal worth about $A170 million. Deloitte Corporate Finance has judged the offer fair and reasonable, and it has been recommended by Primelife's directors.

Publication Date: 4 November 2009

LEND LEASE CORPORATION LIMITED - ASX LLC
LEND LEASE PRIMELIFE GROUP LIMITED - ASX LLP
DELOITTE CORPORATE FINANCE PTY LTD
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

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