Australia's largest residential real estate agency, McGrath, agrees to be taken private by Knight Frank and Bayleys at 60¢/share, a 30% premium, valuing the company at $95.
McGrath, Australia's largest residential real estate agency, has agreed to be taken private by Knight Frank and Bayleys at a price of 60¢ a share, marking a 30% premium to the last traded price but a 70% discount to its $2.10 listing value. Founder John McGrath will stay on as CEO of the division and take up unlisted shares for his majority stake. The deal values McGrath at approximately $95.5 million.
March 24, 2024
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