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DuluxGroup (ASX:DLX) has released its bidders statement in a bid to court its takeover target Alesco Corporation Limited (ASX:ALS).
The paint manufacturer launched a $188 million bid for all the shares that it does not already own in Alesco earlier this month, offering $2.00 per share.
In the latest bidder’s statement DuluxGroup says some of Alesco's largest institutional shareholders have already sold a considerable number of shares to it at the offer price of $2.00 per share.
DuluxGroup believes this is a strong indication that its offer price is attractive.
Alesco has made no change to its recommendation that its shareholders should take no action in relation to the offer from its largest shareholder, DuluxGroup, who already has a 19.96 per cent stake in the company.
DuluxGroup booked a net profit of $93.2 million in the 2011 financial year.
