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Bain offers R25bn for Edcon

Directors recommend the deal.

Bain Capital has offered Edcon shareholders R46 a share in its bid to acquire the group’s entire share capital and directors are recommending the deal.


The offer price is at a premium of 51,3% over the closing share price of R30,40 on October 16 2006, the day before Edcon issued a cautionary announcement regarding discussions with private-equity parties.


The total value of the transaction will be R25bn and will result in the de-listing of Edcon from the JSE.


Shareholders will be paid out in cash.


By 9:45, the share price was R43,85


More to follow…

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COMMENTS   5

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…your 100 shares are a drop in the ocean

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