Frasers' Australand takeover acceptances pass halfway with 24 hours to go

Frasers' Australand takeover acceptances pass halfway with 24 hours to go
Jonathan ChancellorAugust 6, 2014

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.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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