Macmahon has told its shareholders to take no action in respect of the Cimic offer.

Macmahon rejects Cimic's $174m offer

Macmahon Holdings has criticised CIMIC Group’s proposed $174 million takeover offer, saying its preliminary view was that it does not represent fair value of the business, and has told its shareholders to take no action.

Perth-based Macmahon received the 14.5 cents per share takeover offer from Cimic earlier this week, with Cimic proposing to acquire the 79.5 per cent of Macmahon’s issued shares that it doesn’t already own.

Cimic’s position on the offer was that it was a 45.6 per cent premium to Macmahon’s three-month volume-weighted average price. However, the target argued today that the offer was less than its current net tangible assets per share.


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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/07/17

1 year TSR5 year TSR
103rdVietnam Industrial Investments71%10%
117thMacmahon Holdings62%-21%
140thNRW Holdings52%-22%
322ndDecmil Group4%-15%
710 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$21k Bought
$80k Bought
$11k Bought
Total value as at the date of the transaction
Source: Morningstar


18th↓Macmahon Holdings$358.3m
19th-Vietnam Industrial Investments$315.5m
21st↑Decmil Group$299.8m
22nd↓NRW Holdings$288.0m
230 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Macmahon Holdings

674thJim Walker$178k
646thEva Skira$98k
1100thVyril Vella$98k
Ranked by total remuneration from all listed WA companies

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