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Property valuer snaps up smaller company
Hall & Wilcox has acted for LandMark White in its acquisition of private valuer Taylor Byrne.
Grace Ormsby
Firm: Hall & Wilcox (LandMark White), Taylor Byrne (Clarke Kann)
Value: $5.15 million cash plus 8.58 million shares
Area: M&A
Key players: Hall & Wilcox partner Jacqui Barrett worked with special counsel Jonathon Wood and lawyer Paul Simos.
Deal significance: LandMark White is an ASX-listed property valuer, while Taylor Byrne is a private NSW and Queensland valuer.
For the deal, LandMark White paid Taylor Byrne’s shareholders $5.15 million in cash as well as with 8.58 million company shares at a deemed issue price of 60 cents each.
According to a statement from Hall & Wilcox, “the acquisition further cements LandMark White’s position as the largest ASX-listed property valuation services business in Australia”.
The sentiment was echoed by Ms Barrett, who said the transaction represented a significant investment for LandMark White.
