Dec 31 (Reuters) - Concentrated Leaders Fund Ltd CLF.AX :
* IBC RECOMMENDS ACCEPTANCE OF IMPROVED TAKEOVER OFFER,WAM-CLF.AX
* WAM CAPITAL HAS AGREED TO VARY ITS OFFER BY IMPROVING OFFER CONSIDERATION
* ALL SHAREHOLDERS WILL RECEIVE 2 NEW WAM CAPITAL SHARES IN EXCHANGE FOR EVERY 3.5 CLF SHARES
* BOARD UNANIMOUSLY RECOMMENDS THAT ALL CLF SHAREHOLDERS ACCEPT OFFER
* CLF SHAREHOLDERS WHO HAVE ALREADY ACCEPTED OFFER WILL ALSO RECEIVE IMPROVED OFFER CONSIDERATION FROM WAM CAPITAL