Samuel Terry Absolute Return Active Fund, managed by Samuel Terry Asset Management Pty Ltd made an offer to acquire 80.1% stake in Eildon Capital Fund (ASX:EDC) from CVC Limited (ASX:CVC), First Samuel Limited, Chemical Overseas Ltd and others for AUD 37.06 million on April 24, 2023. The offer price is AUD 0.93 per share. Samuel Terry will finance the acquisition from its own funds. If the threshold has achieved offeror will go for compulsory share acquisition. The offer will open on May 8, 2023, and will close on June 8, 2023. EDC board has recommended its shareholders to take no action. Aitken Murray Capital Partners Pty. Ltd acted as a financial advisor, Allens acted as a legal advisor and, Boardroom Pty Limited acted as a Registrar to the offeror. Grant Thornton Corporate Finance Pty Ltd, will provide the fairness opinion, Jones Day acted as a legal advisor to EDC.

Samuel Terry Absolute Return Active Fund, managed by Samuel Terry Asset Management Pty Ltd cancelled the acquisition of 80.1% stake in Eildon Capital Fund (ASX:EDC) from CVC Limited (ASX:CVC), First Samuel Limited, Chemical Overseas Ltd and others on April 26, 2023. Eildon Independent Board Committee recommended shareholders to reject the offer.