The Australian Government’s Takeovers Panel has announced it accepts the undertakings from Downer EDI’s(ASX:DOW)
application to takeover Spotless Group (ASX:SPO)
The Takeovers Panel says it did not find unacceptable circumstances in Downer EDI’s application to acquire all of the shares in Spotless Group, that it already doesn’t own.
As a result, The Panel says it is not against the public interest to accept the undertakings.
Meantime, the Spotless Group directors say they are continuing to recommend their shareholders reject the Downer EDI offer and take no action.
Shares in Downer EDI (ASX:DOW)
last traded 0.47% higher yesterday to $6.39.