Brit acceptance rate creeps up to 84%
Private equity acquisition vehicle Achilles said this morning (28 February) that more than 84 percent of Brit shareholders have now accepted its takeover offer.
At the same time the offer period was extended to 5 March 2011.
Achilles, which is owned by private equity firms Apollo and CVC, had received valid acceptances of the offer in respect of 66,709,467 Brit shares as of 1:00pm GMT 26 February. This represents 84.26 percent of the existing issued share capital.
On 17 February,...
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