Brierley's Mercantile wins over Ask Funding board in sweeter takeover bid

Thu, 30 Jul 2015

By Paul McBeth July 30 (BusinessDesk) - Ron Brierley's Mercantile Investment has won over the board of takeover target Ask Funding after sweetening its offer last week. Brisbane-based Ask Funding today said its board has reconsidered the upgraded offer of 8 Australian cents per share and will recommend it to shareholders. Ask Funding has been winding down its businesses since 2011 and servicing its loan books to repay Bank of Western Australia, with a view to distributing surplus funds to shareholders. It rejected Mercantile's original...

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