Hitachi commences compulsory acquisition of Bradken

Company News

by Jessica Amir

Hitachi Construction Machinery Co Limited has announced it has started to compulsorily acquire all of the outstanding Bradken Limited (ASX:BKN) shares.

Hitachi Construction Machinery (HCM) says it also sent the compulsory acquisition notice to the remaining Bradken shareholders.

Bradken shareholders are being urged to accept the HCM offer without delay, but if they don’t action the offer their shares will be compulsorily purchased.

For unit holders who accept the offer prior to the closing date of 7 April 2017, they will be paid either on or before 30 days after the company received their acceptance documentation, or 21 days after the closing date.

Shares in Bradken Limited (ASX:BKN) closed 0.3% lower yesterday to $3.24.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.