The Scheme Booklet contains a report by the independent expert, Ernst & Young Transaction Advisory Services Limited.
They have concluded that the scheme is in the best interests of the shareholders with the shares being valued at a midpoint of $4.68. Given that the buyout values the shares at $5.30, shareholders will receive a midpoint profit of 13.1%.
As previously announced, the Board of LWB unanimously recommends shareholders vote in favour of the scheme.
With all of the information being made available, shareholders will have until September 15 to register their interest in attending the Scheme meeting, which is to be held on September 17 this year.
If the scheme is approved – a likely outcome – the decision of the court hearing for the approval of the scheme will be announced to the ASX on September 19 2012.
If all goes to plan, and the expected buyout is approved by the shareholders and the courts, the takeover will be implemented October 8.
For more details on the contents of the booklet and the directors’ reasons for accepting the scheme see here.