SPECIAL SHAREHOLDERS MEETING
Aveng tie-up could be good for Aton, says M&R
Despite major shareholder Aton saying on Friday it would not support Murray & Roberts’s (M&R’s) proposed tie-up with Aveng, the JSE-listed company said it could be good for the German-based engineering, automotive and healthcare investment group and it would be working to bring it on board. Earlier on Friday, M&R group CEO Henry Laas told Business Day that such a deal might be good for Aton. "We want to engage them very soon over the merits of a transaction and get their support," he said. The vision shared by M&R and Aveng was to establish a large multinational engineering and construction group, creating "significant value" for shareholders of both companies. Laas said such a transaction required shareholder approval and a green light from the Takeover Regulation Panel, which had already been approached by the group. Talks between M&R and Aveng had been ongoing since November 2017, and were interrupted by Aton’s "surprise" offer. "It has been a very busy couple of weeks to come to...
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