NorthWest presses for Australian Unity fund
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Canadaâs NorthWest Healthcare Properties has stepped up the pressure in its $2.3 billion bid to take over an Australian Unity-run fund by requesting the unitholders register, a move that lays the groundwork for a potentially decisive vote on the property trustâs future by its own investors.
Partnered by Singaporeâs GIC, the ambitious and acquisitive NorthWest has been at loggerheads with the manager of the Australian Unity Healthcare Property Trust after lobbing a $2.20 per unit bid two weeks ago and establishing control over a 16.2 per cent stake.
That stake â established though a put-and-call arrangement with one of the fundâs largest shareholders, Hume Partners â has allowed the Canadian team to request the register. It also gives the Canadians a beachhead from which it can call a unitholders meeting that could vote on changing the propertyâs trust manager and or endorse NorthWestâs