Campbell takes 54% stake in Ammtec

Campbell Brothers takeover bid for metallurgical and minerals testing service firm Ammtec has crossed the 50 per cent acceptance level.

In a statement to the Australian Securities Exchange, Campbell Brothers said that the latest acceptance had increased from 47.4 per cent to 54.3 per cent.

On October 5, Ammtec's directors vended 4.6 per cent of the company's shares to Cambell Brothers subsidiary Australian Laboratory Services.

Campbell Brothers last month won the backing of the Ammtec board with a revised offer of $3.85 cash - an increase of five cents - per Ammtec share or four Campbell Brothers shares for every 33 Ammtec shares held.

Investors who held their shares on September 24 will receive an additional 11 cents per share fully franked final dividend for the 2009-10 financial year plus a 10 cents per share fully franked special dividend.