Aton could launch a new buyout bid for Murray & Roberts (M&R), the CEO of SA’s engineering and mining contractor said, months after the German investor threw in the towel on a R7.6bn takeover deal that faced opposition from competition authorities and its target’s board.

Aton, owned by billionaire Lutz Helmig, has been trying to buy M&R since 2017, but its offer was rejected by M&R’s board as poor value. But Aton picked up shares in open market at R17 each, raising its stake to about 44% and triggering a rule under capital markets regulations to offer the remaining shareholders the same amount.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now