JB HI-FI has announced today the 100% acquisition of The Good Guys for a total cash consideration of $870m. The acquisition will be funded through a 1 for 6.60 fully underwritten, pro-rata, accelerated, renounceable entitlement offer of approximately $394m, with the balance funded through debt facilities.

The entitlement offer will be issued at a price of $26.20 per new share, which represents a 9.2% discount to the last close (12th September 2016) of $28.85. An Institutional offer will be conducted from Tuesday 13 September to Wednesday 14th September 2016. A Retail Entitlement will open on 21st September and close Friday 30 September.

Macquarie Capital (Australia) Ltd is acting as exclusive financial adviser, sole lead manager, sole bookrunner, and sole underwriter.

For further information please see JB HI-FI’s Investor centre https://www.jbhifi.com.au/General/Corporate/Shareholder-Matters/Investor-Presentations/