Aton insists R6.7bn move on Murray & Roberts is friendly, M&R begs to differ
Murray & Roberts is still urging its shareholders to reject the offer from the German family investment company
Aton has confirmed a cash bid for all of Murray & Roberts, but the JSE-listed engineering group is still urging its shareholders to reject the R15 a share offer from the German family investment company, saying it materially undervalues the firm. Aton said the offer, which values Murray & Roberts at R6.7bn, was a further investment by an "experienced multinational corporation" that underscored confidence in the South African market. It already holds about 40% of Murray & Roberts shares. Aton said it had been given the blessing of Murray & Roberts to directly approach the group’s shareholders and this was not a hostile takeover. But Murray & Roberts has dismissed this interpretation, claiming it is "opportunistic". If you are already a subscriber, please click on the following link below to go to the full article: Aton takeover offer values M&R at R6.7bn If you would like to subscribe to BusinessLIVE Premium to read the full story, please click here to subscribe.