Developer Villa World agrees to Avid's $293.6m takeover bid

ASX-listed residential developer Villa World has agreed to a takeover by private equity-backed Avid Property Group, following an unanimous recommendation by the board of Villa World.

Villa World has agreed to a $2.3451  a share takeover, the higher revised price to the initial offer of $2.23 a share lobbed in March when Avid made its first approach. With 125.2 million shares outstanding, the offer would be worth $293.6 million.