The 99-year-old major shareholder of ailing vacuum cleaner retailer Godfreys has lifted his takeover offer for the company as he moves closer to gaining control of the stricken group.
John Johnston, via his bidding vehicle Arcade Finance, on Thursday raised his offer to 33.5¢ per share from the original 32¢ per share and also extended it by a further two weeks to a new closing date of June 7.
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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
