Ann Crotty Writer-at-large

German industrial group Aton, which has launched a hostile bid for control of Murray & Roberts (M&R), has acquired a 25.4% stake in Aveng in a move that looks certain to kill the proposed transaction between M&R and Aveng. The stake is large enough to prevent the deal from getting the 75% support it will need from Aveng shareholders. Ed Jardim, M&R’s group investor and media executive, referred on Friday to a Sens statement that read the board would assess the latest development and its effect on the proposed deal with Aveng and provide guidance "in due course".

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