Business
Seven Group makes opportunistic $8b bid for Boral – The Australian Financial Review
Kerry Stokes’ Seven Group Holdings has made a bold bid to move up Boral Ltd’s share register.
Seven Group pitched the bid as an 18 per cent premium to where Boral shares were trading at the end of March and a 22 per cent premium to the six month VWAP.
Barrenjoey Capital Partners and Allens are advising Seven Group on the nil premium bid. Barlcays is helping with funding.
Seven Groups offer comes only one month after the group exhausted its creep provisions and moved to 23 per cent of Borals shares on issue.
Seven Group said its CEO Ryan Stokes would step back from his duties on Borals board…
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