Locked into a Spotless strategy

Spotless Group's creativity in responding to PEP’s overtures hints at pressure from institutional shareholders, whose response to today's announcement will be crucial.

The Spotless board, under pressure from recalcitrant institutional shareholders, have nominated their threshold price for a change of control in the face of the bear hug being enforced by private equity group Pacific Equity Partners.

Late last month Spotless provided PEP – and the market at large – with an upbeat presentation of its position, strategy and prospects that depicted a significant structural uplift in its earnings over the next few years.

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