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.