360 Capital Faces $0.30 Takeover Bid; Independent Board Committee Urges Caution
360 Capital Group has received an unconditional $0.30 per security takeover offer from TT Investments, prompting the formation of an Independent Board Committee to evaluate the bid and advise securityholders.
- TT Investments launches unconditional $0.30 per security takeover bid
- Independent Board Committee formed, chaired by David van Aanholt
- Legal advice secured from Clayton Utz for independent review
- Securityholders advised to take no action pending Target's Statement
- Independent Expert's Report forthcoming to assess offer fairness
Background to the Bid
On 15 September 2025, 360 Capital Group (ASX, TGP), a prominent player in Australian real estate investment and funds management, disclosed it has received an unconditional off-market takeover offer from TT Investments. The bid values each stapled security at 30 cents in cash, a move that could reshape the ownership structure of the group.
TT Investments, notably associated with Tony Pitt, the Executive Chairman of 360 Capital Group, has also indicated intentions to acquire securities on-market at or below the offer price, signaling a strategic push to consolidate control.
Independent Board Committee Steps In
Given the potential conflict of interest with the Executive Chairman’s association to the bidder, 360 Capital’s independent directors swiftly established an Independent Board Committee (IBC) to impartially assess the offer. Chaired by Non-Executive Director and Deputy Chairman David van Aanholt, the IBC has engaged Clayton Utz, a leading legal firm, to provide expert counsel throughout the evaluation process.
The IBC’s immediate advice to securityholders is to take no action in response to the offer or the bidder’s statement at this stage. This cautious stance underscores the committee’s commitment to ensuring that shareholders receive a thorough and unbiased assessment before making any decisions.
Next Steps and What to Expect
In the coming weeks, securityholders can expect the release of a Target’s Statement, which will include an Independent Expert’s Report. This report is critical as it will provide an objective evaluation of whether the $0.30 offer is fair and reasonable in the context of 360 Capital’s current valuation and future prospects.
The IBC has pledged to keep the market and securityholders informed of any material developments as they unfold, maintaining transparency during this pivotal period.
Implications for Investors
This takeover bid arrives at a time when 360 Capital Group is navigating a complex investment landscape. The offer price of 30 cents per security will be scrutinized against the company’s asset portfolio and growth strategy. Investors will be weighing the immediate cash offer against potential long-term value creation under existing management or new ownership.
With the Executive Chairman linked to the bidder, the independence and rigor of the IBC’s review will be paramount in maintaining investor confidence and ensuring that all securityholders’ interests are fairly represented.
Bottom Line?
As 360 Capital’s takeover saga unfolds, investors await the independent expert’s verdict to gauge the true value behind the $0.30 offer.
Questions in the middle?
- Will the Independent Expert’s Report endorse or challenge the $0.30 offer price?
- How might Tony Pitt’s dual role influence the takeover outcome and shareholder trust?
- What strategic changes could TT Investments implement if the bid succeeds?
