COPENHAGEN: The Chief Executive of Danish engineering group FLSmidth said on Monday the company's A$7.20 per share bid to acquire Australian listed company Ludowici was final and would not be raised.
Chief Executive Jorgen Huno Rasmussen told Reuters the group would finance the deal with its own funds and existing bank credit facilities and that he saw it as "most likely" that the bid would be accepted by Ludowici shareholders.
"We believe the offer is so attractive that the shareholders will accept the offer," Rasmussen told Reuters.
He answered with a "no" when asked if he would consider raising the bid.FLSmidth on Monday announced it had made the offer with an enterprise value of A$267 million ($279.14 million).
FLSmidth said earlier on Monday that Ludowici's board had agreed to recommend the offer to its shareholders on condition that there was no superior offer and that an independent expert found that the deal was in shareholders' best interest.
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