ENGINEERING AND MINING CONTRACTOR
Aton could still launch a new bid, says M&R boss
14 February 2020 - 05:10
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.