Metlifecare shares have been placed in a trading halt after the retirement village company said it has received a further revised takeover proposal from an unamed suitor.
The company's board described it as a non-binding indicative proposal and said a scheme implementation agreement (SIA) with a third party has been "substantially negotiated".
However, the SIA has not yet been executed pending confirmatory financial due diligence.
The trading halt was placed pre market open this morning at the request of the company.
Metlifecare shares closed on Friday at $6.38.