Aton extends its hostile bid for control of M&R
Aton also announced a three-month extension on its hostile takeover bid for Murray & Roberts
Privately-owned German company Aton has extended its four-year hostile bid for control of engineering and mining contractor Murray & Roberts (M&R) by another three months to the end of June as it attempts to secure the necessary approval from regulators in SA and Canada. On the same day that Aton announced the three-month extension, M&R announced its second acquisition in two months. On Monday, M&R informed shareholders it has bought San Diego-based company Terra Nova Technologies (TNT) for $38m (about R544m). PODCAST: How the construction industry contributed to its own demise. Subscribe: iono.fm | Spotify | Apple Podcasts | Pocket Cast | Player.fm “TNT provides services to the global mining industry” and “has a diverse international footprint”, M&R said in a SENS statement released on Monday. It said TNT was a successful business and has had reported good financial results since it was established in 1997. “Given the global reach and client network of the Murray & Roberts Undergro...
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