Business Services Industry
AUSTRALIA'S BORAL PLANS BID FOR ADELAIDE BRIGHTON.
AsiaPulse News, December, 2003
MELBOURNE, Dec 17 Asia Pulse - A 10 per cent stakeholder in Adelaide Brighton could hold the key to Boral Ltd's (ASX:BLD) A$840 million (US$623 million) takeover bid for the cement and lime company, according to analysts.
The Barro Group has a 10.01 per cent stake in Adelaide Brighton which could potentially be used to block Boral's bid.
Boral is offering A$1.55 per share for Adelaide Brighton, with the offer subject to approval by the Australian Competition and Consumer Commission (ACCC) and a 90 per cent acceptance condition.
"In our view, the Victorian-based Barro Group is central to the outcome on both these key conditions," Goldman Sachs JBWere analyst Matthew McNee said in a briefing note to clients.
Mr McNee said the ACCC was...
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