Franchise Brands PLC (AIM:FRAN) said its all-shares offer for commercial kitchen services provider Filta Group Holdings PLC (AIM:FLTA) is now unconditional, save for admission of the new shares to AIM.
Following the agreement of the offer on 16 February, the deal was approved by shareholders on Monday and valid acceptances in respect of 81.94% of the shares had been received as of 12.30pm on Tuesday, being above the required level of 75%.
Franchise Brands has now waived all other conditions to the offer and with the consent of the takeover panel and once admission to trading on AIM of the new Franchise Brands shares the deal will complete.
As it is expected that Filta shares will be cancelled from trading on AIM on 24 March.