Seven Group launches billion-dollar bid for Boral

[

The company said in a statement to the ASX on Monday that a committee of Boral’s independent directors would meet to consider the offer and form a response.

“Once the offer opens, Boral will prepare a target’s statement responding to the offer, which will include the directors’ recommendation in relation to the offer and an independent expert’s report opining on whether the offer is fair and reasonable,” the statement said.

The statement would be sent to shareholders around mid-March, it said.

Seven Group is about 57 per cent owned by the Stokes family. As well as its major stake in Boral, the group’s diversified holdings also include industrial equipment firm Westrac, Coates Hire, a large chunk of ASX-listed oil and natural gas producer Beach Energy, and a controlling interest in Seven West Media.

The Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon.

Read original article here

Denial of responsibility! Genx Newz is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a Comment