$ 778m bid for Programmed

Townsville Bulletin - - NEWS -

SHARES in labour hire group Programmed Main­te­nance have risen strongly af­ter a $ 778 mil­lion takeover bid by Ja­panese HR gi­ant Per­sol.

Tokyo- listed Per­sol first ap­proached Programmed a year ago but Programmed man­ag­ing direc­tor Chris Suther­land said ex­ec­u­tives only re­cently set­tled on a value.

“It’s very im­por­tant our part­ner share a sim­i­lar per­spec­tive on strat­egy, cus­tomer ser­vice and the value of peo­ple,” Mr Suther­land said.

Programmed said the of­fer price puts its en­ter­prise value at $ 992 mil­lion and the board has unan­i­mously rec­om­mended the of­fer to its share­hold­ers.

The com­pany pro­vides staffing, main­te­nance and fa­cil­ity man­age­ment ser­vices around the coun­try and across the Tas­man.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.