Mercantile falls short in takeover bid for Ask Funding, getting 72%

Mon, 17 Aug 2015

By Suze Metherell Aug. 18 (BusinessDesk) - Veteran corporate raider Ron Brierley's Mercantile Investment has fallen short in its bid to takeover ASX-listed Ask Funding, getting 72 percent of its shares despite having sweetened the deal to shareholders and winning over the target's board. At the offer's close last Friday Mercantile secured 71.74 percent of Brisbane-based Ask Funding, it said in an announcement. Last month the takeover was recommended to shareholders by Ask Funding's board after the offer was lifted to 8 Australian cents pe...

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