Vision Eye Institute Limited (ASX:VEI) has recommended Vision shareholders accept an off-market takeover bid by Jangho Group Corporation Limited. 

 

The recommendation refers to a takeover offer made by the Chinese company on 13 August 2015. Jangho Group proposed a bid of $1.10 cash per Vision share.

 

The Vision Board has advised shareholders that it is in unanimous agreement regarding the attractive offer, indicating that the bid provides them with a significant premium for their Vision shares, alongside an immediate value certainty through the all-cash consideration. 

 

Jangho’s offer period will close at 7pm on 21st October 2015 unless extended or withdrawn. 

 

Vision Eye Institute Limited reported net profit of $12.03 to the year ended 30 June 2015