Business
Boral urges shareholders to reject $8b bid from Stokes-led Seven – Sydney Morning Herald
The building materials supplier describes the bid by Seven Group Holdings as “opportunistic”.
Australias largest listed supplier of building products Boral has urged its investors to reject the offer from billionaire Kerry Stokes industrial conglomerate Seven Group Holdings that values the company at $8 billion.
Boral said its committee of directors believed the $6.50 offer was opportunistic and delivered a nil premium to its last close. Boral director and Seven managing director Ryan Stokes has stepped off the Boral board while it considers the proposal.
Seven Group already holds a 23.18…
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