EDITORIAL: Aton, M&R count cost of failed merger
The aborted takeover bid is certain to have destroyed value for Aton’s owners and incurred huge fees for M&R shareholders
03 October 2019 - 05:08
Sometimes it’s difficult not to suspect that companies exist to keep lawyers and corporate advisers in business. That seems to be the case at Aton and Murray & Roberts who have been embroiled in a protracted and acrimonious takeover battle for the past 17 months.
Neither of these companies — the former a family-owned Germany-based investment company, the latter a JSE-listed construction and engineering company — emerged well from the battle, which was halted earlier this week...
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