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.

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