Aventus Group has agreed to a merger with HomeCo Daily Needs REIT ((HDN)) and the combined entity will be managed by Home Consortium ((HMC)). The deal will go to a vote in late January/early February 2022.

Aventus Group unitholders will receive 2.2 HomeCo Daily Needs REIT securities and 28.5cpu cash, equating to $3.82 per Aventus Group share. The combined entity expects to achieve $10.5m per year in synergies.

Separately, Aventus Group upgraded its FY22 guidance to 5.6% growth versus FY21, for funds from operations (FFO).

Sector: Real Estate.

Target price is $3.30.Current Price is $3.46. Difference: ($0.16) - (brackets indicate current price is over target). If AVN meets the Morgan Stanley target it will return approximately -5% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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