The board of Spotless Group (ASX:SPT) is recommending a takeover bid of at least $2.80 a share from Pacific Equity Partners Pty Limited.
The company says that in current circumstances, it’s the lowest price the board is willing to unanimously recommend.
In December the cleaning, catering and retail services company said it was expecting to achieve double digit earnings growth over the next four years.
In the 2011 financial year Spotless Group posted a net profit of $42.8 million.
