IOOF Hub24 takeover fails
Platform provider Hub24 has rejected IOOF's offer to acquire 100 per cent of its shares, saying that it is "inadequate".
The Hub24 board has informed IOOF that its proposal is inadequate. The Hub24 board does not intend to take any further action in relation to the proposal.
It was revealed earlier this week that IOOF was the prospective buyer.
Hub24 is being advised by Investec Australia Limited and Minter Ellison.