RDC Properties has launched an unsolicited, all-share takeover bid for PrimeTime, but the offer has been swiftly dismissed by analysts and stakeholders as lacking in both strategic logic and financial merit.
The proposed transaction, which RDC has positioned as a growth-oriented move, is notably short on detail. It offers no synergy plan, no asset-level rationale, and crucially, no control premium for PrimeTime’s unitholders. Instead, RDC seeks to exchange its own undervalued shares for PrimeTime’s significantly stronger Botswana-led property portfolio — a move critics say amounts to asking PrimeTime investors to subsidise RDC’s valuation shortfall.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased
