What’s at stake: Deciding the fair and reasonable value of Boral in a takeover bid by Seven Group. Boral and independent experts believe it has been undervalued given its strong improvement in earnings and positive outlook.
Background: Seven put an offer to buy all the shares of Boral it did not own on February 19. It offered a minimum of A$6.05 per Boral share.
Main players: Boral, Seven Groups Holdings, Kerry Stokes.
The independent directors of ASX-listed cement company Boral has issued a firm recommendation for shareholders to reject the A$1.9 billion ($2.05b) takeover offer from Seven Group Holdings.
The Bid Response Committee's decision, outlined in an ASX statement today, followed a comprehensive
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Key points
What’s at stake: Deciding the fair and reasonable value of Boral in a takeover bid by Seven Group. Boral and independent experts believe it has been undervalued given its strong improvement in earnings and positive outlook.
Background: Seven put an offer to buy all the shares of Boral it did not own on February 19. It offered a minimum of A$6.05 per Boral share.
Main players: Boral, Seven Groups Holdings, Kerry Stokes.
