Peet Limited

Can Ingenia back out of its agreement to buy Peet if it itself is offered to be taken over by Warburg Pincus?" Um, so while Ingenia has a binding scheme implementation agreement with Peet, there are obviously outs, and one of those, of course, is that the independent expert, um, for both Peet but-- and also Ingenia, um, consider this a deal worth doing.

Um- And that's obviously a big one because if there's a, a takeover bid from Warburg Pincus that is attractive and the independent expert values as superior to, to the, you know, the deal to buy Peat and what that's gonna do for Ingenia, then, you know, certainly it's gonna give the board an opportunity to walk away.

Um, so, you know, there's no doubt in my mind that if Warburg Pincus continues to increase and ultimately Ingenia receives a price that it can't reject, yes, the deal for Peat will fall over because the deal, uh, between Warburg Pincus and Ingenia is conditional on the Peat deal not proceeding.

So, um, you know, I think if you're, if you're holding Peat, and, you know, we didn't recommend Peat because it, uh, it is a share-based offer.

Um, [lip smack] so it doesn't fit our criteria.

But if you bought Peat on the expectation that this deal will fall over, look, I'm not sure because W-Warburg Pincus has, has raised a few times, they look serious.

Um, and so, yeah, there's certainly no guarantees that this Peat deal is gonna complete.

"Hi, Shannon.