Uncertainty about Aton’s four-year bid for control of engineering group Murray & Roberts (M&R) looks set to continue until at least early 2020, when the Competition Tribunal will hear arguments against the Competition Commission’s recommended prohibition.

In July, the M&R share price dropped by almost 20% to its lowest level in 16 months after the commission announced that it wanted the proposed takeover by Germany-owned Aton to be prohibited by the tribunal...

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