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GRD shares up on private equity talk

SHARES in engineering and investments group GRD Ltd jumped earlier this week, up 16 cents to $2.20 each on Tuesday, after reports it had been the latest subject of interest from Macquarie Bank. GRD this week confirmed that it had received an approach from Macquarie to conduct due diligence. The GRD board turned down the offer. Last year former chairman Brett Fogarty sold a significant parcel of shares to Macquarie, around 10 per cent of the company worth $31 million. He still retails around 21 per cent of the company.

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