Decmil Group Limited (AU:DCG) has released an update.
Decmil Group Limited has announced a takeover bid from Macmahon Holdings Limited, offering Decmil shareholders a significant 76.5% premium over the recent closing price, at $0.30 per share, with a unanimous board recommendation to accept the deal. The acquisition also includes Decmil redeemable convertible preference shares at a premium, promising a quick realization of value for shareholders. The deal, subject to shareholder and court approval, is expected to complete by August 2024, with Decmil to operate as a Macmahon subsidiary post-acquisition.
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