Private equity proposal to buy all Spotless shares

A private equity firm has made an indicative, non-binding and conditional proposal for all the shares in Melbourne-based Spotless Group.

Spotless directors today said they did not intend to take any further action on the proposal, which they considered did not reflect the fundamental value of the company in the context of a change of control.

The private equity firm had proposed to acquire 100% of the shares of Spotless via a scheme of arrangement at an indicative price of A$2.50 (NZ$3.39) in cash per share. Spotless, which is listed in this country and Australia, last traded on the ASX at A$1.95.5c on Friday.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

MPG - Metroglass clarifies media statements by Crescent Capital
VTL - Takeovers Panel orders Empire to reimburse Vital's expenses
March 14th Morning Report
SKT - Sky secures iconic sports rights
RYM - Ryman completes Retail Entitlement Offer
TEM - Transaction in Own Shares
FPH launches F&P Nova™ Nasal mask in NZ and AU
Fonterra announces changes to management team
March 12th Morning Report
WHS FY25 Interim Results teleconference details