A hefty break fee of $38.1 million is in place but analysts think a rival bid is unlikely.
Dulux shares are trading at close to the $9.80 offer price a week after the bid emerged.
A $38 million break fee and an offer price that values Dulux Group at a high price-earnings multiple means investors in the paints company are increasingly convinced that the prospect of a rival takeover bid is low.
More than a week after Japan's Nippon Paint made its surprise offer for Dulux at $9.80 per share, valuing the company's equity at $3.8 billion, the shares are trading at close to that level, hovering around $9.73.
Loading...
Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
