Feb 23 (Reuters) - Aspen Group Ltd APZ.AX :
* Says received an unsolicited proposal from mill hill capital
* Aspen Group would acquire edward baillie capital hotel & leisure fund's hotel
/ motel portfolio and operations for $31.35 million
* Says mhc proposal is that Aspen Group would appoint john carter and david
dixon as joint chief executive officers of Aspen Group
* Would undertake an off-market buyback at a price of $1.20 per Aspen Group
security of up to 25% of Aspen Group issued capital
* Says mhc proposal is expected to be accretive to both earnings and
distributions
* Says has negotiated a six week period to undertake due diligence
* Mhc proposal has considerable merit to continue to progress with the
proposal"
* Source text for Eikon ID:nASX6PwmQz