March 11, 2014 / 12:21 AM / in 4 years

Regulator reviewing Leighton's share jump prior to Hochtief bid

SYDNEY, March 11 (Reuters) - The Australian Securities and Exchange Commission is reviewing share trading in Leighton Holdings Ltd, which jumped significantly last week ahead of a $1 billion offer from major shareholder Hochtief AG .

The review is part of the commission’s day-to-day market surveillance activities and not an official investigation at this stage, a spokesman for the regulator said.

Hochtief AG said on Monday it plans to spend over $1 billion to lift its majority stake in Leighton, seeking to push through restructuring at a business that already delivers most of Hochtief’s profit.

Leighton’s shares jumped last Thursday and Friday ahead of the Hochtief announcement, surging 14 percent over the two days with trading heavier than usual.

Leighton declined to comment on the review.

Leighton shares were 3.2 percent lower at A$22.35 as of 0000GMT, after jumping 11 percent on Monday.

Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs

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