Murray & Roberts buys Terra Nova Technologies
Aton, which has made an offer to buy M&R, has until end-June to get approvals for the takeover
Murray & Roberts (M&R), which is in the crosshairs of German company Aton, has bought San Diego-based company Terra Nova Technologies (TNT) for R552m. M&R’s shares were up 4.8% at R13.36 after the company made the announcement on Monday morning. Cementation Americas, which forms part of the Murray & Roberts Underground Mining platform, has bought 100% of TNT for $38m, the construction group said. TNT, which operates from offices in the US and Chile, provides services to the global mining industry and other sectors. “Given the global reach and client network of the Murray & Roberts Underground Mining platform and the number of projects in execution at any time, the potential to grow the TNT business is significant,” M&R said. “TNT’s presence in South America is expected to aid Murray & Roberts’ expansion into this continent.” Meanwhile, Aton, which has made an offer to buy M&R, said on Monday it has until end-June to get approvals for the takeover. Aton said recently it had obtained ...
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