THE MAC Service Group, which operates mining camp accommodation at Kambalda, is the subject of a friendly $651 million takeover by Houston-based Oil States International.
THE MAC currently employs more than 400 staff and manages more than 5,000 permanent rooms at Kambalda and the Bowen Basin in Queensland.
Oil States International has proposed to acquire all of The MAC’s shares for $3.90 per share.
The MAC has entered into a scheme implementation deed with Oil States and the company's directors have unanimously recommended that shareholders vote in favour of the scheme.
Oil States International provides a broad range of services to the oil and gas industry including remote site accommodation in Canada and the US.
The acquisition would make it one of the largest providers of mining accommodation in the world providing housing more than 11,000 workers in Australian and North America.
"The Board has determined that Oil States' proposal provides shareholders with an excellent opportunity to realise significant value from their investment in The MAC," The MAC chairman Kevin Maloney SAID.
"They believe that the certainty delivered by this cash proposal at an attractive premium is in the best interests of The MAC's shareholders."
Credit Suisse is acting as the financial adviser and Freehills is acting as the legal adviser to The MAC in the transaction.
