Afrimat shares reach record high after firm turns down R2.1bn deal
Afrimat said in April that it had made an offer for Australia-listed Universal Coal, which operates in SA and counts Eskom as a client
04 July 2019 - 14:40
Shares in Afrimat have risen to a record high as investors breathed a sigh of relief following the building materials supplier’s decision not to pursue the R2.1bn takeover of Universal Coal.
Investors have grown wary of large deals, particularly as the likes of Woolworths and Famous Brands struggle to turn around the now-flagging offshore companies they bought several years ago...
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