Macmahon Holdings Limited (AU:MAH) has released an update.
Macmahon Holdings Limited has announced a takeover bid for Decmil Group Limited, offering $0.30 per ordinary share and $0.343 per redeemable convertible preference share, a significant premium over recent share values. With unanimous backing from Decmil’s board and key shareholders, the acquisition, if approved, would see Decmil operate as a Macmahon subsidiary, maintaining its brand but merging its civil business under Macmahon. The deal is expected to close by the end of August 2024, subject to scheme participant approval and other conditions.
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