Campbell Brothers Ltd (ASX:CPB) has increased its takeover offer for Ammtec Ltd (ASX:AEC) to value the company at around $136 million.
Campbell Brothers today advised that it has upped its cash offer from $3.35 per share to $3.80, and changed the offer of shares to a new ratio of 4 Campbell Brothers shares for every 33 Ammtec shares.
Ammtec says it is considering the latest response and its shareholders have been advised to take no action until a formal recommendation is made.
Campbell Brothers has also offered an incentive by announcing that it will pay a handling fee to brokers that initiate acceptances of offers from their clients from today.
Campbell Brothers recorded a profit of $75.3 million for the year to 30 March 2010.
CPB Price at posting:
$6.26 Sentiment: None Disclosure: Held
