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HOCHTIEF AG announces intention to make proportional offer for shares of Leighton Holdings Ltd

Sunday, 9 Mar 2014 07:37pm EDT 

HOCHTIEF AG:Says, through its wholly owned subsidiary HOCHTIEF Australia Holding Limited, that it intends to make a conditional, proportional off-market offer to acquire three out of every eight shares held by Leighton Holdings Ltd shareholders (other than HOCHTIEF) for $22.15 cash per share.Leighton Holdings shareholders who are on the Leighton registers on March 21, and who accept the offer will therefore receive $22.15 per share in respect of 37.5 pct. of their Leighton shares.If all Leighton shareholders accepts the offer, HOCHTIEFwill increase its stake in Leighton from 58.77 pct. to a maximum of 74.23 pct. for a total cash consideration of about $1.155 billion.HOCHTIEF announced that it intends to increase its representation on the Leighton Board to reflect its majority interest in Leighton. 

Company Quote

-0.23 -1.14%
21 Nov 2014