AUSTRALIA: Hess extends Lehmann takeover bid
The group currently holds just over 81% ownership of Lehmann, and has extended its bid to November 14. Founder Peter Lehmann will retain his 10.5% of the company, so Hess cannot get full ownership.
The offer was due to close last night but Hess has told shareholders that if they had previously sold part of their holding under the A$4-per-share offer they could now sell the remainder.
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