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Seven Group Holdings Announces Off-Market Takeover Offer for Boral

10 May 2021  |  19:24:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Seven Group Holdings off-market takeover offer for Boral Ltd

Seven Group Holdings announced a $6.50 cash per share off-market takeover offer ("Offer") for all of the ordinary shares it does not own in Boral. The Offer will be made by Network Investment Holdings Pty, a wholly owned subsidiary of the company. The company currently had an interest in 23.18% of Boral. Given that its interest exceeded 20% and that it had recently utilised its "creep" capacity by acquiring an additional 3% interest, the company was currently restricted from acquiring further Boral shares on market at this time. As a result, the company was making a takeover offer to all shareholders. The Offer closes on 25th June 2021, unless extended.

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