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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
113thCIMIC Group70%16%
229thAGL Energy24%12%
255thAmcor19%24%
339thOrigin Energy4%-11%
445thMacquarie Group-11%24%
719 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
14th-Origin Energy$11,981.0m
15th-AGL Energy$11,175.0m
17th-Macquarie Group$9,368.0m
76 listed non wa companies ranked by revenue.
Source: Morningstar

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