Frasers set to clinch Australand

By Sarah Danckert - The Australian

According to a substantial shareholder notice released on the Australian Securities Exchange at 1. 30pm, acceptances under the offer had reached 25. 43 per cent while 14. 02 per cent of stock had been directed by holders to be sold into the deal through the institutional acceptance facility.

It is understood some tinkering by Frasers with the fine print of its acceptances policy to allow the inclusion of shares sold into the institutional acceptance facility in the overall count will be instrumental in getting the deal across the line.

Read more here: Business Spectator


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