Business
Seven Group pounces with $8 billion bid for Boral – Sydney Morning Herald
Kerry Stokes’ holding company has made an opportunistic play for the largest supplier of building products in the country.
Billionaire Kerry Stokes’ industrial conglomerate Seven Group Holdings has launched an ambitious takeover offer for Boral, that values Australias largest listed supplier of building products at $8 billion.
Seven Group made the offer for the shares in Boral it does not already own on Monday evening after market close. Seven already holds a 23.2 per cent stake in the group.
Seven Group chief executive, Ryan Stokes will reduce his duties on Borals board while the offer is open. Credit:Janie Barrett
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