Ausdrill Ltd has blamed a fall in the company's share price on hedge fund selling after comments from suitor Macmahon Holdings Ltd that its takeover bid was unlikely to succeed.
In a boost to its takeover bid for Ausdrill Ltd, Macmahon Holdings Ltd has received acceptances from Ausdrill shareholders with nine per cent of the company's stock following the establishment of an institutional acceptance facility last week.
Macmahon Holdings Ltd has further strengthened its takeover bid for Ausdrill Ltd, waiving several conditions and allowing shareholders to keep the final six cents dividend.
Takeover target Ausdrill Ltd has posted a 28 per cent increase in its full year net profit on the back of a six per cent increase in revenue to $391 million.
Ausdrill Ltd has rejected Macmahon Holdings Ltd's increased takeover offer, saying the new bid represented less value for shareholders than the original offer.
Macmahon Holdings Ltd has jumped the gun in its takeover bid for Ausdrill Ltd, extending the offer period by one month and allowing Ausdrill shareholders the right to withdraw acceptances.
Takeover target Ausdrill Ltd has fired back at Macmahon Holdings Ltd's claims that its share price is being propped up by its $400 million bid, saying its bidder had so far managed to secure 0.31 per cent of Ausdrill shares.
Perth engineering company Macmahon Holdings Ltd has formed a new Aboriginal contracting business as it decides whether to extend its takeover offer period for Ausdrill Ltd.
Perth engineering company Macmahon Holdings Ltd has negotiated a $100 million extension to a contract with BMA Coal Operations, which owns and operates the Saraji coal mine in Queensland.
Macmahon Holdings Ltd's failure to rouse up a relevant interest in Ausdrill Ltd of more than one per cent has played into the takeover target's hand nicely, as it issued its target statement today.
Ausdrill Ltd today reaffirmed its opposition to Macmahon Holdings Ltd's takeover offer, saying directors and other shareholders with 39.1 per cent of its stock would not accept the offer.
Construction and engineering firm Macmahon Holdings Ltd has launched a $446 million takeover bid for Canning Vale-based Ausdrill Ltd, a year after the drilling contractor revealed it had been approached by an unidentified suitor.
Macmahon Holdings Ltd has been awarded a $65 million contract to construct 50 kilometres of rail to the Mesa A mine for Robe River Mining Co Pty Ltd, a subsidiary of Rio Tinto Iron Ore in the Pilbara.
Macmahon Holdings Ltd has been awarded a long term mining contract for Jubilee Mines' new Sinclair Nickel Project, as well as an extension to its existing Olympic Dam underground development contract for BHP Billiton, worth a combined $200 million.
East Perth-based Macmahon Holdings Ltd chairman Dick Carter has assured shareholders that the acquisition of 11.5 per cent of the company's issued capital by Leighton Holdings Ltd would not change the company's business direction.
Welshpool-based Macmahon Holdings Ltd has won a two-year mining works contract at the BHP Billiton Mitsubishi Alliance Saraji coal mine in Queensland, valued at around $75 million.
Welshpool-based Macmahon Holdings Ltd's Queensland-focused joint venture has signed on to construct a $240 million bridge over the Brisbane River, under a contract with the Brisbane City Council.
Welshpool-based contracting group Macmahon Holdings Ltd has signed $180 million worth of new rail and civil construction contracts, taking its order book to the record level of $1.8 billion, the company announced today.
Welshpool-based contracting group Macmahon Holdings Ltd has been awarded a $98 million contract in conjunction with SMEC Australia and Hydro Tasmania to commence construction works on several major water infrastructure projects in Queensland.
Contracting and services provider Macmahon Holdings Ltd has reported a record first-half after-tax profit of $25.8 million, up 120 per cent on the previous year, due largely to the sale of its Allplant hire business.
Welshpool-based contracting group Macmahon Holdings Ltd has secured a three-year extension to its underground mining contract at BHP Billiton's Leinster Nickel Operation, a deal worth around $90 million.
WELSHPOOL-BASED contracting and services group, Macmahon Holdings Ltd, has been awarded a $230 million contract with BHP Billiton Iron Ore's Jimblebar mine, 60 kilometres east of Newman.
Welshpool-based contracting and services group Macmahon Holdings Ltd has been awarded a $230 million contract with BHP Billiton Iron Ore's Jimblebar mine.
When nickel producer Minara Resources decided last year to pursue the development of a $25 million heap leach demonstration plant, it ran into an unexpected problem.
Rio Tinto subsidiary Argyle Diamonds Ltd has appointed Welshpool-based Macmahon Holdings Ltd as the preferred contractor for the second phase of works at its underground Argyle Diamond Mine.
Kimberley Diamond Company NL has awarded a new 4-year mining contract with a total value of approximately $120 million to Macmahon Holdings Limited for the Ellendale Diamond Project
Woodside chief financial officer Ross Carroll has resigned after joining the company last year to take up the same role at contracting group Macmahon Holdings Ltd.
MACMAHON Holdings Ltd announced a record after tax profit of $11.7 million for the half year ended December 31 2005, an increase of 107 per cent on the (AIFRS adjusted) result for the same period in 2
Engineering contracting and services group MacMahon today announced it had been confirmed as the preferred proponent for the mining and processing contract at BHP Billiton's Jimblebar iron ore mine.
Perth-based Macmahon Holdings Ltd has been awarded a $250 million mining and crushing contract for BHP Billiton's new "Orebody 18" open cut iron ore mine.
Shareholders in engineering and mining contractor Macmahon Holdings gave the company a bloodied nose at its annual general meeting this month, with shareholders who hold 19 per cent of shares voting against the company's remuneration plan.
THE operator of the North West Shelf joint venture, Woodside, has awarded a site preparation and temporary facilities contract for the train 5 liquefied natural gas (LNG) expansion, worth $50 million,
