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Sandon Capital closes takeover offer for Mercantile Investment

Sandon Capital Investments Ltd. closed its takeover offer to acquire all of the shares in Mercantile Investment Co. Ltd. on Sept. 9.

Following the closure, Sandon Capital Investments holds 93.97% of Mercantile Investment's shares, according to a Sept. 10 release.

In July, Sandon Capital Investments had offered 0.2043 of its own shares for every Mercantile Investment share that it did not already own.

Sandon Capital Investments said it intends to commence the compulsory acquisition process for the remaining shares it does not own.