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News Seven Group takes control of Boral

Seven Group takes control of Boral

Written by Global Cement staff 16 July 2021
  • Print

Australia: Seven Group has increased its stake in Boral to 52% via a 3% equity swap with Macquarie. the company now has effective control of the building materials producer although it assured Boral that it would retain a majority of independent directors, according to the Sydney Morning Herald newspaper. However, Boral has continued to urge its shareholders to resist the ongoing offer by Seven Group to buy their shares. The takeover bid has been valued at around US$6.5bn. Boral is currently in the process of selling its US fly ash business.

Last modified on 21 July 2021
Published in Global Cement News
Tagged under
  • Australia
  • Seven Group
  • Acquisition
  • Boral
  • shareholders
  • Shares
  • corporate
  • Takeover
  • GCW515

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