News: DuluxGroup reaches 90% acquisition threshol

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DuluxGroup Limited (ASX:DLX) has reached the 90 per cent interest threshold in its takeover target Alesco Corporation Limited (ASX:ALS) and will commence the compulsory acquisition process as a result. 

 

Alesco shareholders who have not yet accepted the paintmakers offer will be issued with compulsory notices after it closes officially tomorrow evening. 

 

Dulux has encouraged shareholders to accept its $1.63 per share offer before the deadline to receive immediate payments.

 

The company initially made a hostile takeover bid for Alesco in May, before Alesco accepted the bid in early October.  

 

DuluxGroup posted a net profit of $43 million for the first half of 2012.