Company News Summary
Spotless Group Holdings Responds to Takeover Offer
Original announcement: Response to takeover offer
Spotless Group Holdings announced that it notes the announcement from Downer EDI regarding its 19.9% interest in the Company and its unsolicited conditional takeover offer for the Company at $1.15 per share. It notes that the Downer offer is highly conditional, with conditions including a minimum acceptance of 90%, no change in its earnings guidance provided in February 2017, regulatory approvals, no termination of the underwriting agreement in relation to Downer's announced $1,011m equity raising and no material acquisitions, disposals or significant events being undertaken by the Company.
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