The corporate cogs are starting to spin in the JSE’s broader industrial sector, with several deals tabled amid persistent rumours of more merger and acquisition (M&A) activity.In recent weeks struggling industrial counters, like pipeline services specialist Rare Holdings and industrial and mining services conglomerate Eqstra, have been targeted in buyout bids — the former by controlling shareholders in the company and the latter by the acquisitive ENX.Stellar Capital Partners (in the throes of an offer to minority shareholders in Torre Industrial) recently pitched a takeover bid for highly profitable and cash-flow-generative Amecor.This week mining services specialist Buildmax, where investment giant Brait holds an anchor stake, received a conditional offer from an undisclosed party to acquire a controlling equity position in the loss-making company.Buildmax reports that the conditional offer revolves around existing shareholders receiving shares in the acquiring entity. This seems ...
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