Australia's Downer launches $1b bid for struggling Spotless Group

Australia's Downer launches $1b bid for struggling Spotless Group

REUTERS/Tim Wimborne

Australia’s Downer EDI Ltd on Tuesday offered to buy cleaner-caterer Spotless Group Holdings Ltd for A$1.27 billion ($982 million), almost a third below the price it was listed at after a private equity turnaround three years ago.

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