AUSTRALIA

Skilled takeover launched

THE board of Skilled Group has finally agreed to a cash and shares-based takeover worth more than $420 million from rival labour hire company Programmed Maintenance Services.

Under the deal each Skilled share - 154.5c each this morning - will be bought for 25c cash plus 0.55 Programmed shares. Skilled said this offer equated to $1.79 per share based on Programmed's last...

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