Ann: Spotless lodges Target's Statement - REJECT Downer Offer, page-2

This needs to be emphasised:

• The Downer Offer is opportunistic and timed to take advantage of a historical Spotless share price low.

As I have stated here before, I will not be accepting the offer as I don't think it represents good value for this business. It is easy to come in and say look how generous we are offering a premium to the recent SP, but let us not forget that SPO was a $2 plus SP business not that long ago. I think SPO over the coming years will regain significant traction in its core business areas and is well undervalued at the moment. It is encouraging to hear that guidance has been reaffirmed. For me it still remains an attractive long term investment all whilst paying a dividend.