May 9 (Reuters) - Australian digital classifieds company Mitula Group said on Wednesday Japanese real estate portal Lifull Co agreed to buy the company for about A$188.3 million ($140 million) and merge it with Lifull’s online classifieds unit.
Mitula shareholders will receive 0.0753 Lifull share for each share held. This values Mitula at about A$0.8742 per share, a premium of about 95 percent, based on the stocks’ close on Wednesday.
Mitula said its board recommended shareholders to vote in favour of the agreement, in the absence of a superior proposal.
1 Australian dollar = 81.6579 yen $1 = 1.3443 Australian dollars Reporting by Ambar Warrick in Bengaluru; Editing by Gopakumar Warrier