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Pearlstreet Announces Proposal of Cash Offer by Campbell Brothers
Thursday October 1, 2009, 8:54 am

Original Announcement: CPB: Intention to Make Takeover Bid for PST

Pearlstreet announced Campbell Brothers' wholly owned subsidiary, Australian Laboratory Services, proposes to make a cash offer for all of the issued capital in PearlStreet, including shares issued following the exercise of PearlStreet options during the offer period. Campbell Brothers proposes to offer the Company shareholders a cash consideration of 56 cents per share. The Proposed Offer represents total consideration of approx. A$86.7m, comprising A$42.1m for equity and A$44.6m for net debt as at 30 June 2009.

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