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Ausdrill rejects new Macmahon offer

20-August-08 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.

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