Three of Forge Group’s directors have made good on their commitment to sell part of their shareholding to engineering company Clough, which recently declared its proportional takeover bid final. Forge managing director Peter Hutchinson and directors Andrew Ellison and Gregory McRostie netted a total of $6.7 million from the sale of their shares to Clough, which is offering a discounted $2.10 for each share. Since Clough launched its offer earlier this year, Forge shares have climbed to a high of about $3 and Forge’s independent directors have recommended that shareholders reject the offer.
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