Vitalharvest Freehold Trust (VTH), an A-REIT that invests across the agricultural supply chain, has accepted a $344.4 million takeover offer from Macquarie, according to The (Perth, Australia) Market Herald.
Macquarie and Roc Partners have been locked in a bidding war for Vitalharvest and its $300 million portfolio. Following the fifth bid from Roc Partners for $1.23 per unit — or $342.5 million — Macquarie submitted a sixth proposal for $1.24 last week. Vitalharvest said it was in the best interest of shareholders to accept the Macquarie proposal.
Vitalharvest’s objective is to provide investors with exposure to real agricultural property assets whose earnings profile and underlying value are exposed to the growing global agricultural demand for nutritious, healthy food, according to the company’s website. The initial assets comprise one of the largest aggregations of berry and citrus farms in Australia and are leased to Costa Group, a major
