Ferrovial exceeds 90% of Broadspectrum Published on 13/05/2016
- Offer period extended until 20 May 2016.
- Ferrovial to commence compulsory acquisition process to acquire 100% of shares.
- Broadspectrum announced changes in its Board.
Ferrovial announces that it has received acceptances of its offer for 92.05% of Broadspectrum shares. Ferrovial has extended the offer period until 7pm (Sydney time) on Friday May 20, the date until which remaining shareholders can continue to voluntarily accept it.
As previously announced, given that Ferrovial’s interest in Broadspectrum now exceeds 90%, Ferrovial will commence in the coming days the compulsory acquisition process to acquire all the remaining Broadspectrum shares that were not acquired under the takeover offer to thereby acquire a 100% interest and de-list the company.
On the other hand, Broadspectrum today announced a number of changes to the Board, incorporating the new Ferrovial representatives.