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M&R upbeat on prospects for mining unit amid commodity cycle ‘upturn’

By: Terence Creamer     30th August 2018 Engineering and construction group Murray & Roberts (M&R) is upbeat about prospects for its strong-performing underground mining unit, which was the biggest contributor to the group’s 2018 financial performance, as well as to the growth in the JSE-listed company’s R30-billion order book. The... 

M&R withdraws Aveng merger proposal

By: Anine Kilian     8th August 2018 JSE-listed Murray & Roberts (M&R) on Wednesday announced that it had withdrawn its proposal for a potential merger with Aveng. The company announced last week that it was reviewing a decision by the Takeover Special Committee (TSC) to overturn a June decision by the Takeover Regulation Panel that... 

New twist in M&R battle as takeover body disallows further progress on Aveng tie-up

By: Terence Creamer     2nd August 2018 The protracted tussle for control of Murray & Roberts (M&R) took yet another turn this week, after the Takeover Special Committee (TSC) overturned a June decision by the Takeover Regulation Panel (TRP), allowing M&R to continue with preparations for a potential combination with Aveng, despite the... 

Takeover panel clears way for M&R to move on Aveng tie-up amid ongoing ATON opposition

By: Terence Creamer     21st June 2018 Murray & Roberts (M&R) announced on Thursday that it would proceed to further develop a potential tie-up with Aveng after the Takeover Regulation Panel (TRP) sanctioned the outcome of an earlier shareholder vote, which approved a resolution stating that the proposed Aveng deal was not designed to... 

ATON welcomes tribunal’s M&R voting-rights ruling, despite restrictions

By: Terence Creamer     18th June 2018 Investment company ATON, which is seeking to acquire Murray & Roberts (M&R), has welcomed a Competition Tribunal ruling opening the way for it to vote all its shares at a general meeting at which M&R shareholders will vote on the merits of a proposed transaction with Aveng. The meeting is... 

M&R ‘disappointed’ about ATON’s response to proposed Aveng merger

By: Marleny Arnoldi     11th June 2018 Construction and engineering services company Murray & Roberts (M&R) has expressed its disappointment with German investment company and majority shareholder ATON, following ATON’s reaction to M&R’s interest in merging with construction engineering company Aveng.  

ATON bemoans M&R’s Competition Tribunal application

By: Marleny Arnoldi     8th June 2018 German investment company ATON says JSE-listed Murray & Roberts (M&R) has initiated another ‘frustrating action’ against its offer to acquire all shares in M&R, by trying to prevent ATON from exercising its full rights and voting against M&R’s proposed combination with construction giant Aveng.  

ATON reiterates its view on M&R’s proposed acquisition of Aveng

By: Anine Kilian     7th June 2018 Investment company ATON, which has made a mandatory offer to buy all the shares in Murray & Roberts (M&R) it does not already own, has once again reiterated it opposition to M&R’s proposed acquisition of Aveng. The company said in a statement on Thursday that the potential Aveng transaction... 

ATON questions logic of M&R’s proposed ‘poison pill’ Aveng deal

By: Terence Creamer     31st May 2018 Investment company ATON, which is preparing a mandatory offer to buy all the shares in Murray & Roberts (M&R) it does not already own, has reiterated it steadfast opposition to M&R’s proposed acquisition of Aveng, describing the proposed Aveng transaction as a “poison pill” to prevent a takeover... 

M&R says meeting set with ATON to discuss ‘highly strategic’ Aveng deal

By: Terence Creamer     30th May 2018 Murray & Roberts (M&R) confirmed on Wednesday that it would be meeting with its largest single shareholder, ATON, to discuss the merits of M&R’s proposed acquisition of Aveng, which it continues to describe as “highly strategic”. No date has been provided for the meeting, which is being pursued... 

Aton increases interest in M&R to 43.70%, lifts offer price to R17 a share

By: Simone Liedtke     25th May 2018 German-owned Aton has acquired a further 18.25-million shares in Murray & Roberts (M&R). Following the settlement of these shares’ acquisition, Aton will hold 194.35-million shares in M&R, representing about 43.70% of the entire issued share capital. 

Aton lifts M&R interest to 39.6%

By: Simone Liedtke     22nd May 2018 German-owned Aton, has acquired a further 6 600 issued ordinary shares in Murray & Roberts (M&R) at R15 a share, taking its shareholding in M&R to 39.6%. Aton is seeking to acquire all of the shares in M&R not already owned by it. 

Aton says will not support M&R’s proposed transaction with Aveng

By: Simone Liedtke     21st May 2018 German-owned Aton believes Murray & Roberts (M&R) is putting its interests ahead of that of shareholders and other stakeholders with its proposed combination with Aveng. The sole intent of M&R’s announcement on Friday that it plans to merge with Aveng, Aton states, is to frustrate Aton’s... 

Aton’s wooing of M&R shareholders continues

By: Marleny Arnoldi     24th April 2018 As it continues to seek support from Murray & Roberts (M&R) shareholders for its R15 a share buyout offer, German investment company Aton on Tuesday released salient information related to its buyout offer to address “stakeholder concerns”.  

Independent board urges M&R shareholders to reject Aton offer

By: Simone Liedtke     20th April 2018 An independent board established by Murray & Roberts (M&R) to assess the proposal by German family-owned business Aton to acquire all shares in M&R at R15 a share, has again recommended that M&R shareholders reject the offer. In an announcement on Friday, the M&R independent board reiterated that... 

PIC rejects Aton's takeover offer for M&R

By: Reuters     17th April 2018 South Africa's Public Investment Corporation (PIC), the second-biggest shareholder in Murray & Roberts (M&R), said on Monday it had rejected an offer by Germany's Aton to acquire the engineering and construction firm. M&R's biggest shareholder German investor Lutz Helmig's Aton, which owns more... 

Aton makes formal offer to M&R shareholders

By: Simone Liedtke     10th April 2018 German family-owned business Aton has made a formal offer to Murray & Roberts (M&R) shareholders to acquire all shares in M&R at R15 a share. The company on Tuesday said it had already acquired a further 3.1% stake in M&R from a top ten shareholder and that it will soon buy a further 6.5%... 

M&R independent board issues fair value price range

By: Marleny Arnoldi     4th April 2018 The R15-a-share offer that German investment firm Aton is proposing for JSE-listed Murray & Roberts (M&R) falls well short of what the independent board believes the company is valued at.  

M&R's fifth-largest investor rejects Aton's buyout bid

By: Reuters     28th March 2018 The fifth-largest shareholder in Murray & Roberts (M&R) plans to reject a hostile buyout bid from Germany's Aton that values the South African builder at nearly $600-million. "The offer of R15 per share is below what we believe is fair value. As a result we won't be committing to sell into this... 

M&R board labels Aton offer 'opportunistic'

By: Marleny Arnoldi     27th March 2018 JSE-listed Murray & Roberts’ (M&R’s) independent board review has concluded that German investment holdings company Aton's planned offer of R15 a share is “opportunistic” and that Aton is unlikely to successfully delist M&R after the takeover. M&R reported on Tuesday that Aton’s proposed cash... 

M&R’s shares rise 50% as Germany’s Aton plans buyout 

By: Simone Liedtke     26th March 2018 JSE-listed Murray & Roberts’ (M&R’s) share price rose by more than 50% on Monday morning as it announced that German family owned business Aton plans to buy all shares in the company for R15 apiece. M&R on Monday said Aton, which already holds 33% of M&R’s shares, had informed the group of its... 

Laas sees German group’s interest in M&R as ‘an opportunity, not a threat’

By: Irma Venter     10th March 2017 Murray & Roberts (M&R) CEO Henry Laas views ATM Holding’s acquisition of a 25.5% shareholding in M&R, as “an opportunity, not a threat”. “I’m pretty relaxed about what is happening.” 

Aton share buying spree 'opportunity, not threat', says M&R’s Laas

By: Irma Venter     23rd February 2017 Murray & Roberts (M&R) CEO Henry Laas views ATM Holding’s acquisition of a 25.5% shareholding in M&R, as “an opportunity, not a threat”. “I’m pretty relaxed about what is happening.” 

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