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Programmed acquires over 90% of KLM

Programmed acquires over 90% of KLM

Programmed Maintenance Services (ASX:PRG) has announced that it has secured 92.3% of the shares in the KLM Group (ASX:KLM).

Programmed will therefore proceed with the takeover of the company, having fulfilled the 90% minimum acceptance condition of its bid.

The company’s offer will close at end of trading tomorrow, Programmed said.

Programmed shares have today risen 0.25% to $3.96, while KLM shares declined 2.2% to $0.45.

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Tags Mergers and acquisitionsProgrammed Maintenance ServicesKLM

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