Allegro Funds Pty Ltd agreed to acquire Slater and Gordon Limited (ASX:SGH) for AUD 77.6 million on February 24, 2023. Under the terms of transaction, Allegro Funds will acquire 141 million shares for AUD 0.55 per share. Allegro Funds have sufficient undrawn capital commitments to satisfy their obligations under the Allegro Funding Deed. Allegro Funds will arrange for Slater & Gordon to be removed from the official list of ASX and seek to replace some of the members of the Slater & Gordon Board with nominees of Allegro BidCo to the Slater & Gordon Board, being Adrian Loader (Founder and Managing Director of Allegro) and Johan Krynauw (Managing Director of Allegro).

The transaction is subject to minimum tender including a Minimum Acceptance Condition requiring only that Allegro BidCo acquires a Relevant Interest in at least 50.1% of SGH Shares. and Slater and Gordon Limited board approval. As of February 24, 2023, The Offer has been unanimously recommended by the Slater & Gordon Board, with all directors of Slater & Gordon recommending that Slater & Gordon Shareholders ACCEPT the Offer. FIRB approval has already been obtained by the Allegro Fund Entities. As of March 24, 2023, the minimum acceptance condition has been fulfilled. As of April 3, 2023, the offer is unconditional. The Offer is scheduled to close on April 4, 2023, unless extended. As of April 3, 2023, the offer has been extended till April 11, 2023. Slater & Gordon is being advised by Flagstaff Partners and Minter Ellison. Kroll Australia Pty Ltd provided the fairness opinion to Slater and Gordon Limited. Adam Foreman, Chris Allen, Michael Catchpoole, Sandy Mak, Ian Dallen, and James North of Corrs Chambers Westgarth acted as Legal adviser, Faraday Associates Pty Limited Financial adviser and Link Market Services Limited Share registry in respect of the Offer to Allegro Funds. Computershare Investor Services Pty Limited acted as registrar to Allegro. Flagstaff Partners Pty Ltd acted as financial advisor to Slater and Gordon.

Allegro Funds Pty Ltd completed the acquisition of Slater and Gordon Limited (ASX:SGH) on April 11, 2023.