Arcade Finance of John Johnston's takeover car will start compulsory acquisition of Godfrey's remaining shares today.
A declaration of Arkansas Finance of 9227 percent shares of August's share capital the Godfreys said that the company announced the progress of the acquisition of shares after the expiry of the offer in 6.30 minutes during Adelaide.
The 99-year-old ASX created a takeover bid for the company in April, with the help of Arcade Finance to operate a closed business and it continues to run as a private company.
It is not clear what this announcement meant for the current campaign the Godfreys, with an aggressive advertising campaign published yesterday.
Managing Director John Hardy noted that it was necessary to create excitement among consumers due to the increase in tensions between consumers.
"The main challenge of the Godfreys Vacuum Cleaners will be to bring the customers back into the heart of the main destination.
"Retailers will not be able to bring new and innovative models to their story, but effective marketing will be used to improve the class of their products to regain their traffic."