Takeover bid for Ammtec

Campbell Brothers has lodged a bidder's statement on behalf of its wholly owned subsidiary Australian Laboratory Services, making an off-market bid to acquire all ordinary shares in metallurgical services operator Ammtec.

ALS has offered $3.35 cash per Ammtec share or 2 Campbell Brothers shares for every 17 Ammtec shares.

Shareholders have the flexibility to choose to receive cash or scrip and by taking scrip.

Campbell Brothers has said its cash offer represents a 33 per cent premium to Ammtec's closing share price of $2.51 on May 18th, when ALS outlined its intention to make an offer for Ammtec shares.