May 20, 2021 | Industrials | Australia | Ended

Boral / Seven Group Holdings: New Deal Insights

On 10-May-21, billionaire Kerry Stokes’ industrial conglomerate Seven Group Holdings (“SGH”) made an ambitious AUD 6.50 per share takeover bid for all of Boral in an attempt to further solidify its ownership in Australia’s largest supplier of construction materials and building products. SGH already owns 23.18% of Boral, which it acquired over a period of 14 months, and this unsolicited cash tender offer aims to increase its stake to over 30%. It is a nil-premium offer to the previous day’s close, but SGH has pitched the bid as: (i) an 18% premium to Boral’s share price on ...

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