Govt Takeover Panel accepts Downer EDI’s undertakings

Company News

by Jessica Amir

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.

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.