April 16, 2018 / 3:18 PM / 3 days ago

South Africa's PIC rejects ATON's offer to buy Murray & Roberts

JOHANNESBURG, April 16 (Reuters) - South Africa’s Public Investment Corporation, the second biggest shareholder in Murray & Roberts (M&R), has rejected an offer by Germany’s Aton to buy the construction firm’s shares.

M&R’s biggest shareholder ATON, which owns more than a third of the engineering and construction firm, made a buyout offer of 15 rand ($1.3) per share last month. M&R rejected ATON’s buyout offer, which values company at nearly $600 million. (Reporting by Patricia Aruo Editing by James Macharia)

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