Platinum Asia Investments (ASX:PAI) and Platinum Capital (ASX:PMC) confirmed they received unsolicited, confidential, nonbinding, and indicative proposal from a third party to acquire the firms, according to Wednesday Australian bourse filings.
The firms are seeking a class ruling from the Australian Taxation Office regarding a proposed scheme under which shareholders of the firms will be able to exchange their shares in the firms for for units in Platinum Asia Fund (ASX:PIXX), an active exchange-traded fund managed by Platinum Investment Management.
The boards of the firms will assess the bids and there is no certainty that it will result in a binding transaction.
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