German firm ATM Holdings buys big into M&R
The family is reported to be exploring a deal that would combine the engineering firm with its mining industry service provider
Germany’s ATM Holding has acquired 25.5% of Murray & Roberts (M&R) in a move that makes it the majority shareholder and fuels speculation of a takeover bid for the construction and engineering group. This emerged on the same day that Murray & Roberts reported a more than 70% fall in its interim diluted continuing headline earnings per share for the six months to December, to 27c from 93c in the same period in the previous year. ATM is a wholly owned subsidiary of ATON, a private German investment holding company that has a diverse portfolio of investments in the mining, engineering, aviation and health technology sectors. ATON bought a 4.49% shareholding in Murray & Roberts between June and September 2015. Murray & Roberts said it would engage with ATON regarding its intentions. "We don’t know what their intentions are at this stage — all we know is that they own 25% of the company," Murray & Roberts head of investment Ed Jardim told Reuters. Reuters reports that ATON held discussio...
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