FDM bid unconditional
Dec 23, 2009
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Buyout vehicle Astra 5.0 Ltd has increased its stake in IT staff provider FDM Group allowing it to declare its bid unconditional.
On 26 November, the FDM board recommended a 141p a share bid but Astra has subsequently acquired additional shares at 150p each so it has been forced to increase the bid to the same price.
The latest purchase at 150p a share adds 14.2% of FDM's shares to Astra's holding. Astra owns, or has acceptances from, 58.3% of the share capital of FDM.
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