Thomson Financial Mergers & Acquisitions



Title:

Spotless Group Ltd withdraws offer for Programmed Maintenance Svcs

Price:$48.00
Publication Date:Mar 27, 2008
Abstract:AUSTRALIA - Spotless Group Ltd (SG) withdrew its tender offer to acquire the remaining 97.1% interest, or 87.42 mil ordinary shares, which it did not already own, in Programmed Maintenance Services Ltd (PM), a property maintenance services provider, from BT Investment Management (RE) Ltd (3.56%), Perpetual Investment Management Ltd (2.99%), a unit of Perpetual Ltd, Colonial First State Global Asset Management Ltd (3.75%), a unit of Commonwealth Bank of Australia, and other undisclosed sellers, for 522.619 mil Australian dollars ($481.123 mil US). SG offered a choice of A$3 ($2.762) in cash and 0.825 ordinary share, or A$1.5 ($1.381) in cash and 1.223 ordinary shares, or 1.62 ordinary shares for every PM ordinary share. The shares were valued based on SG's closing stock price of A$3.61 ($3.323) on March 26, the last full trading day prior to the announcement. The offer was conditioned upon at least 90% of PM's shares being tendered.
Acquirer:Spotless Group Ltd
Acquirer Business Discription:Pvd physical,support svcs
Acquirer SIC Code:7389 - Business services, nec
Target Name:Programmed Maintenance Svcs
Target Business Description:Pvd ppty maintenance svcs
Target SIC Code:8711 - Engineering services
Format:Adobe Acrobat Adobe Acrobat
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Purchase Report
Price: $48.00

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Thomson Financial Mergers & Acquisitions

Thomson Financial's (TF) Worldwide Mergers and Acquisitions database covers public and private transactions involving at least a 5% ownership of a company. Transactions include m&a, stock swaps, LBO's, spinoffs, rumored and seeking buyer deals, and more. U.S. deals date as far back as 1979, and international deals to 1985.

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