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Ausdrill rejects new Macmahon offer
20-August-08
Written by Rebecca Lawson with AAP
Ausdrill Ltd has rejected Macmahon Holdings Ltd's increased takeover offer, saying the new bid represented less value for shareholders than the original offer.
Earlier today Macmahon lifted its scrip offer from 1.45 of its shares to 1.65 shares for each Ausdrill share and said the offer was final subject to any competing proposal.
"Macmahon's final offer of 1.65 Macmahon shares is $0.14 per share or 5% lower than the value of the initial offer at announcement," Ausdrill chairman Terry O'Connor said.
Article continues...
20-August-08
Written by Rebecca Lawson with AAP
Ausdrill Ltd has rejected Macmahon Holdings Ltd's increased takeover offer, saying the new bid represented less value for shareholders than the original offer.
Earlier today Macmahon lifted its scrip offer from 1.45 of its shares to 1.65 shares for each Ausdrill share and said the offer was final subject to any competing proposal.
"Macmahon's final offer of 1.65 Macmahon shares is $0.14 per share or 5% lower than the value of the initial offer at announcement," Ausdrill chairman Terry O'Connor said.
Article continues...
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