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Spotless in trading halt pending negotiations

Shares in Spotless have been put into a trading halt ahead of an announcement on the outcome of Pacific Equity Partners’ (PEP) bid to buy the industrial services company.

The halt will continue until Friday, unless an announcement is made earlier.

“The reason for the trading halt is to prevent trading in Spotless securities taking place in an uninformed market ahead of the announcement,” the company told the ASX.

PEP, a Sydney-based private equity firm, first made a hostile bid for Spotless in November. The two have been negotiating for the past five months.

Spotless shares closed at $2.46 yesterday.

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