KEY POINTS:
A takeover bid for childcare centre operator Kidicorp has been successful.
Positive Educare has acquired just over 91 per cent of its target, allowing it to compulsorily acquire the rest of the shares.
Its 24c per share offer for Kidicorp was extended until August 17 after independent directors recommended the deal in the absence of a better offer.
The offer remains conditional on Positive Educare receiving confirmation of its banking facilities.
Positive Educare is owned by Kidicorp ceo Wayne Wright's Mitchell Investment Trust, which owns just over 54 per cent of Kidicorp.
- NZPA
