G8 Education receives $197m takeover bid from Majority Capital Partners

Childcare operator G8 Education has received a takeover proposal from Melbourne investment manager Majority Capital Partners, valuing the company at about $197 million. The offer of 26 cents per share is a 160% premium to G8’s last closing price. G8 has granted the bidder up to six weeks of exclusivity for further due diligence and negotiations. Its directors intend to recommend that shareholders support a deal if an arrangement is reached.