7 Oct 2009

Offer for Taylors extended

12:09 pm on 7 October 2009

Spotless Services has given shareholders of the Taylors laundry services company two more weeks to consider its takeover offer.

Taylors board of directors has recommended to shareholders that they accept an increased offer of $2.25 per share for a third of the company that Spotless does not currently own.

In a letter to shareholders, Spotless chief executive Josef Farnik urged them to accept the offer.

Due to takeover rules, the price cannot be raised again and he says they are unlikely to receive an offer from anyone else.