A private equity firm has indicated it may launch a multi-million dollar takeover offer for Spotless Group.
Pacific Equity Partners has issued an indicative proposal offering $2.63 for the shares it doesn't own - valuing the company at $AUS698 million.
Pacific Equity Partners already has agreements with other shareholders to give it more than 19% of the company but it can decide not to proceed with the buyup if it wants to.
Spotless, which provides services including cleaning, security, and catering, says the offer does not reflect the fundamental value of the company in the context of change in control and its directors won't take any further action.
