18 Sep 2009

Takeover offer raised for laundry company

3:34 pm on 18 September 2009

A takeover offer for Taylors has been improved, with its majority owner now prepared to pay an extra 17 cents per share.

Independent directors of the listed laundry company have persuaded Spotless Services to offer $2.25 per share for the one-third of the company it does not already own.

Directors recommend shareholders accept the offer, saying another player is unlikely to emerge and the share price could take a long time to reach the level being offered by Spotless.