Australia's construction giant Leighton Holdings confirmed Monday it had received a letter from its major shareholder, Germany's Hochtief, announcing its intention to boost its stake in Leighton. Hochtief Australia Holdings announced its intention to make a cash offer of 22.15 AU dollars (20.07 U.S. dollars) a share to acquire three out of every eight shares held by Leighton shareholders. If all Leighton shareholders accept the offer, Hochtief will increase its stake in Leighton to 74 percent from 59 percent for about 1.15 billion AU dollars (1.04 billion U.S. dollars), Hochtief said. Hochtief also said it intends to increase its representation on the Leighton board to reflect its majority interest in the company. The company said it continues to support Leighton's chairman Robert Humphris. Hochtief plans to work with the Leighton Board to complete a broad-based review of Leighton's operating model that is being undertaken by Leighton management. In a statement, Leighton said its directors will consider the bid once it has been received.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor