DuluxGroup reaches 90% acquisition threshold

Company News

DuluxGroup Limited (ASX:DLX) has reached the 90 per cent interest threshold in its takeover target Alesco Corporation Limited (ASX:ALS) and will commence the compulsory acquisition process as a result. 
 
Alesco shareholders who have not yet accepted the paintmakers offer will be issued with compulsory notices after it closes officially tomorrow evening. 
 
Dulux has encouraged shareholders to accept its $1.63 per share offer before the deadline to receive immediate payments.
 
The company initially made a hostile takeover bid for Alesco in May, before Alesco accepted the bid in early October.  
 
DuluxGroup posted a net profit of $43 million for the first half of 2012.