Footwear and clothing retailer Colorado group ltd has been notified that ARH Investments (Australia) Pty Ltd (ARH) proposes to make an off-market takeover bid for all the shares in Colorado at a price of $4.50 per share subject to certain conditions.
The Board of Colorado is carefully considering the terms of the offer by ARH and will comment as soon as they have completed their assessment. ARH's offer values Colorado at approximately $430 million.
Shareholders should take no action at this stage, pending further advice from the Board.
Colorado has retained Gresham Advisory Partners and Clayton Utz to provide advice in relation to the offer.
Colorado group ltd is a leading national footwear and apparel retailer and wholesaler, with an Australian heritage dating back over 140 years. It operates more than 430 stores in Australia and New Zealand. The group's portfolio of leading brands include Colorado, Mathers, Williams, Pairs, Jag and diana ferrari.
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