Downer wins war of attrition
Spotless' board now unanimously recommend investors accept Downer's cash offer.
Jenny Wiggins writes on Business specialising in Infrastructure, Transport, Policy. Based in our Sydney newsroom, Jenny has over 20 years experience as a financial journalist, including a decade with the Financial Times in New York and London.
Spotless' board now unanimously recommend investors accept Downer's cash offer.
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Spotless is putting pressure on Downer to come back with another offer at a later date
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Downer must decided whether to further extend its Spotless bid by 4pm Tuesday.
Around 40 per cent of Spotless investors continue to hold out against Downer, which closes its hostile bid on Tuesday.
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Downer is expected to take at least three seats on the Spotless board.
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