Ludowici stoush rages

摘要

For a while it looked like a fait accompli. Another Australian equipment maker was going to fall to a foreign suitor. On January 22 FLSmidth entered into a "process" agreement to buy Ludowici for 7.20 dollars a share. When it announced the offer, FLSmidth said it would be paying an enterprise value of about 267 million dollars on a cash and debt-free basis. The offer was to be adjusted to account for any dividends Ludowici may pay to shareholders prior to completion of the sale. Ludowicis board is allowing FLSmidth to do comprehensive due diligence and both parties also have agreed to negotiate a detailed scheme implementation agreement.