Murray & Roberts Makes $400M Play For Clough Shares

Law360, New York (July 31, 2013, 2:02 PM EDT) -- South African engineering and construction conglomerate Murray & Roberts has launched a AU$446 million (US$399.3 million) bid to acquire the outstanding shares of Australian project services and energy firm Clough Ltd., the target confirmed Wednesday.

Murray & Roberts, which already owns 61.6 percent of Clough stock, offered to buy the remaining shares for AU$1.46 per share, Clough said in a filing with the Australian Stock Exchange. The offer is a 30.9 percent premium to the company's closing price Tuesday on the ASX and a 27 percent...
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