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Downer shares in trade halt ahead of deal

Infrastructure and mining services company Downer EDI has requested a trading halt ahead of an announcement related to an acquisition and associated capital raising.

The trading halt comes after media reports that Downer is preparing a $1.2 billion takeover bid for cleaning and catering company Spotless Group.

Downer has requested the trading halt last until it makes an announcement about the completion of the institutional component of its capital raising is completed or the start of trading on Friday.