Original article by Michael Bennet, Damon Kitney
The Australian – Page: 15 : 15-Dec-14

Australian-listed records management services provider Recall has become a takeover target, in an offer worth $A2.2bn by US-based rival Iron Mountain. The bid of about $A7 a share is tipped by experts to be rebuffed by the Recall board as undervaluing the business, and may be sweetened to as much as $A9. Previous speculation about a move by Iron Mountain has lifted Recall’s stock by 27% since September 2014. The cost synergies may amount to as high as $A270m, but institutional shareholders such as Maple-Brown Abbott and Australian Foundation Investment Company may seek a quarter or more of this

CORPORATES
RECALL HOLDINGS LIMITED – ASX REC, IRON MOUNTAIN INCORPORATED, MAPLE-BROWN ABBOTT LIMITED, AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED – ASX AFI, ACCESS, CINTAS CORPORATION, BUSINESS RECORDS MANAGEMENT, BRAMBLES LIMITED – ASX BXB, UBS HOLDINGS PTY LTD, NEW YORK STOCK EXCHANGE, CHINA COMMUNICATIONS CONSTRUCTION GROUP LIMITED, LEIGHTON HOLDINGS LIMITED – ASX LEI, JOHN HOLLAND PTY LTD, APA GROUP – ASX APA, BG GROUP PLC