HUB has entered into a scheme of implementation deed with CL1 to acquire CL1 for a 1/11 script + $0.10 cash which is a 52.8% premium to the 1 month VWAP of both companies. Valuing CL1 at about $3.10 (Vs last close of $1.81), nice.

As a long suffering CL1 shareholder it is good news and for HUB shareholders it is supposedly going to be 8% EPS accretive.

CL1 will continue to be run separately and CL1 directors support the offer – as do I as a CL1 shareholder.