Downer raises A$757 million from institutional entitlement offer

Thu, 23 Mar 2017

By Rebecca Howard March 24 (BusinessDesk) - Sydney-based Downer EDI said it raised around A$757 million from its institutional entitlement offer, with approximately 66 percent of entitlements being taken up by eligible institutional shareholders. Earlier this week, it launched a A$1.26 billion takeover bid for ASX-listed outsourced laundry and cleaning services firm Spotless Group as the Australian-based infrastructure and mining firm looks to expand its operations as a vertically integrated services provider. Downer is offering A$1.15 a...

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