Downer extends Spotless offer by 10 days

Company News

by Jessica Amir

Downer EDI (ASX:DOW) has extended its offer period to un conditionally takeover Spotless Group (ASX:SPO) until 21 July 2017 at 7pm.

The engineering and infrastructure company’s announced after the market close yesterday it would extend its offer period for 10 days, after its previous offer was set to expire.

Downer has again encouraged remaining Spotless shareholders to accept the offer as soon as possible, to realise a certain cash premium for their shares.

Downer’s fourth supplementary offer for Spotless will close at 7pm on Friday 21 July 2017.

The office price is $1.15 per share, which is a 59 per cent premium to Spotless’ share price prior to the offer of $0.725.

Shares in Downer EDI (ASX:DOW) closed flat yesterday at $6.18.


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.