CAPE TOWN – Community Property Holdings’ (Comprop) had launched an “unwarranted attack” on Safari, Safari independent board chairperson Allan Wentzel said on Thursday.
This was despite repeated attempts by Safari to engage with Comprop to address legal and commercial concerns of Comprop’s R1.8 billion cash bid to acquire Safari, which were not responded to, Wentzel said.
Comprop has made a cash offer to buy all of Safari's shares at R5.90 each, this after an initial share-for-share merger attempt between property group Fairvest and Safari, at R4.15 per share, was called off last month.
On Tuesday, Comprop in an update accused the Safari board of having a “negative” view of the offer, and of denying Safari shareholders the opportunity to vote on the offer.
In a strongly worded response to Comprop’s board yesterday, Wentzel said: