Aton files merger application with competition authorities
German family-owned business Aton says it has received further interest from shareholders for its offer to acquire the majority of Murray and Roberts (M&R) shares at R15 apiece.
As of April 17, Aton held a beneficial interest of 39.9% in M&R.
Aton on Friday said that as the M&R board made it clear that it would not cooperate with Aton on the proposed transaction, Aton has filed a merger application with the Competition Commission.
M&R will also file its own separate merger notification.
Aton remains of the view that the implementation of the offer will be beneficial to M&R and its stakeholders.
The offer consideration, Aton noted, represents significant value for M&R shareholders and represents a vote of confidence in the South African economy by a German-owned firm.
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