Stewarts secure Vertex

The Stewart family of Christchurch has secured 80 per cent of plastics company Vertex as acceptances keep flowing in for its $2.09 a share bid.

After clearing its 50 per cent target last week, the family's investment firm, Masthead, is now looking to win 90 per cent acceptances which would lead to its compulsory acquisition of the remaining shares and end Vertex's short stint on the market since listing in 2002.