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Cimic makes bid for Macmahon

Construction giant CIMIC Group has proposed to acquire all the shares it doesn’t own in Perth-based Macmahon Holdings, with the deal valuing the target at about $174 million.

Cimic told the market this morning it had increased its stake in Macmahon from 19.5 per cent to 20.5 per cent, and that it intended to make a final unconditional offer to wholly acquire Macmahon for 14.5 cents per share.

The offer represents a 31.8 per cent premium to Macmahon’s last closing price, and a 45.6 per cent premium to the company’s three-month volume-weighted average price.

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Total Shareholder Return as at 30/06/16

1 year TSR5 year TSR
105thCIMIC Group70%16%
231stAGL Energy24%12%
257thAmcor19%24%
710 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Revenue

12th-CIMIC Group$13,325.4m
13th↓Amcor$12,811.1m
15th-AGL Energy$11,175.0m
76 listed non wa companies ranked by revenue.
Source: Morningstar

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