Lempriere reaches 90 percent of Wool Services International, hitting mop-up target

Wed, 13 Feb 2013

Feb. 14 (BusinessDesk) - Australian wool merchant Lempriere has reached the 90 percent target of Wool Services International, allowing it to mop-up the remaining shares. The Melbourne-based company reached 90.9 percent of acceptances yesterday, according to a substantial security holder notice, meeting its minimum acceptance and letting it compulsorily acquire the remaining shares in the company. Lempriere launched the takeover last year, offering 45 cents a share, valuing WSI at $31 million, a 22 percent premium to the trading price befor...

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