Mineral testing and consulting service Ammtec Ltd (ASX:AEC) says all of its directors have now accepted Campbell Brothers Ltd's (ASX:CPB) revised takeover offer.
Under the revised offer Ammtec shareholders will receive an increase of 5 cents to $3.85 for each share they own, or four Campbell Brothers shares for every 33 they own.
The directors control 4.6 per cent of Ammtec shares all of which has now been sold to Campbell Brothers subsidiary Australian Laboratory Services Pty Ltd, bringing its stake in Ammtec to 38.9 per cent.
Ammtec chairman David Macoboy says the directors' acceptances reflect the confidence they have in the value of the revised offer.
Adding that the board urges its shareholders to accept the revised offer and maximise the potential benefits from the combined entity.
Ammtec recorded a profit of $6.74 million for the year to 30 June 2010.
AEC Price at posting:
$3.94 Sentiment: None Disclosure: Held
