August 20, 2018 / 12:02 AM / a month ago

Australia's Gateway Lifestyle backs Hometown offer

(Reuters) - Australian retirement village owner Gateway Lifestyle (GTY.AX) on Monday recommended shareholders accept Hometown America’s offer to buy the company for A$2.25 per security, in the absence of a superior proposal.

The A$2.25 offer price is at a slight discount of 0.4 percent to Gateway’s last close.

Reporting by Devika Syamnath in Bengaluru; Editing by Stephen Coates

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