LMW in $10.3 million takeover bid for valuer Taylor Byrne Holdings

ASX-listed property advisory group LandMark White Limited has offered $10.3 million cash and scrip takeover bid for Brisbane-based valuer Taylor Byrne Holdings.

The purchase – which would need to be approved by Taylor Byrne shareholders and the Australian Securities and Investment Commission, would give LMW access to 25 more offices throughout Queensland and New South Wales.

Taylor Byrne undertakes regular valuations in the Northern Territory and Kimberly region of New South Wales, according to Business News Australia, which is reporting the LMW bid.

The offer would give Taylor Byrne shareholders about 11 per cent in the company in the form of 8.6 million shares valued at 60 cents per security. The deal additionally includes $5.15 million in cash.

LMW employs more than 300 staff across 40 offices nationally. Its services include commercial and residential valuations and research.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au