https://www.engineeringnews.co.za

ATON extends long stop date for M&R mandatory buyout offer

27th June 2019

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

German family-owned holding company ATON has again extended the long stop date for completing the mandatory buyout of JSE-listed construction group Murray & Roberts’ (M&R’s) shares, from June 30 to September 30.

Owing to pending merger control clearances and competition authority approvals from South African and Canadian authorities, ATON has been extending the long stop date for its intended transaction since mid-2018.

ATON in March 2018 announced plans to buy all shares in M&R it did not already own for R15 apiece.

An independent board established by M&R said this largely undervalued the company’s shares and advised shareholders to vote against the transaction.

ATON then increased its offer to R17 apiece in May 2018; however, it remained below the independent board’s estimate of the company’s worth at between R20 and R22 a share.

ATON had also, in the meantime, increased its shareholding in M&R to 44%, triggering a mandatory offer for the remainder of M&R’s shares.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SafeQuip
SafeQuip

SafeQuip is a leading distributor and manufacturer of fire safety solutions, offering a comprehensive range of products designed to meet all...

VISIT SHOWROOM 
The Beneficiation Academy
The Beneficiation Academy

The Beneficiation Academy is a certified training institution that follows all compliance legislation and is accredited with various Sector...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.052 1.14s - 135pq - 2rq
Subscribe Now