Frasers' Australand takeover acceptances pass halfway with 24 hours to go
Australand has announced a Thursday morning update on acceptances regarding Frasers bid which have now reached 32%.
Frasers Centrepoint Limited offer to acquire Australand was just over halfway there, with the prior announcement when there was 24 hours to go.
At 6.30 pm Wednesday, offer acceptances received totalled 28.65%.
Acceptances of more than 50% of all Australand securities must be received by 7pm Thursday, or the offer will lapse.
Unofficially Frasers controlled 43% of Australand’s register and should surge over 50% by 4pm on Thursday afternoon, the Australian Financial Review Street Talk column suggested late morning.