Australia-based investment management company John Bridgeman Ltd. obtained shareholder approval to continue with its takeover offer for Benjamin Hornigold Ltd.
Following the approval, John Bridgeman decided to free the offer from all defeating conditions, including a minimum acceptance condition and a regulatory approval condition.
As of Dec. 24, John Bridgeman has a 38.90% interest in Benjamin Hornigold.
Shareholders of Benjamin Hornigold that want to accept the offer can do so before Jan. 14, 2019.
Under the offer, John Bridgeman is offering 0.65 John Bridgeman share for each Benjamin Hornigold share and 0.5 John Bridgeman option for each Benjamin Hornigold option.