The offer price of $3.75 per share is a 12% discount to Downer‘s closing price of $4.26.
Downer moved out of solar contracting last year.
DOWNER is whittling down to become a leaner company focussed on ‘urban services’ and will spin off its mining and laundry businesses it said again today as it reports up to $160 million in losses and plans a $400 million equity raising.