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Boral says reject opportunistic Seven Group bid – The Australian Financial Review
John Wylie’s Tanarra Capital wants Boral to accelerate a renewal of the board following the Seven Group bid.
Mr Wylie said the Seven Group offer lobbed on Monday night should hasten the board renewal.
Given these developments we think its appropriate to accelerate those plans and give clarity about who will be taking the company forward, he said.
The Boral board on Tuesday urged its 80,000 shareholders to reject what they say is an opportunistic bid from Seven Group that undervalues the company. Boral shares climbed by 3.4 per cent to close at $6.72 on Tuesday, well beyond the $6.50 per share offer price.
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