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Cimic won't raise Macmahon offer

Spanish-controlled CIMIC Group has stood its ground over its Macmahon Holdings takeover play, telling the market today it would not lift its offer price despite the target entering into a counter-agreement with an Indonesian miner.

Cimic reiterated Macmahon shareholders should accept its 14.5 cents per share takeover offer as soon as possible, as it will not be increasing the cash price or extending the deadline beyond March 9.

“Cimic’s offer price of 14.5 cents in cash per Macmahon share is final and will not be increased in any circumstances during the offer period, including in response to the risky, non-binding, highly conditional Amman Mineral Nusa Tenggara asset proposal,” Cimic said.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/05/17

1 year TSR5 year TSR
202ndMacmahon Holdings43%-24%
330thDecmil Group15%-15%
483rdTox Free Solutions-10%2%
775thQuintis-80%-9%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/06/17
$80k Bought
02/03/15
$11k Bought
02/03/15
$38k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

17th↑Tox Free Solutions$394.9m
18th↓Macmahon Holdings$358.3m
20th↑Quintis$306.0m
21st↑Decmil Group$299.8m
230 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Macmahon Holdings

693rdJim Walker$178k
665thEva Skira$98k
1137thVyril Vella$98k
Ranked by total remuneration from all listed WA companies

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