Seven closes in on control of Boral

Original article by Nick Evans
The Australian – Page: 13 & 16 : 9-Jul-21

Seven Group’s stake in Boral has risen to 40.95 per cent after the takeover target repurchased an additional $131m worth of its own shares on 8 July. Boral has now bought some $772.2m of its issued shares since launching a buyback program in April. The building materials group paid an average of $7.402 apiece for its latest tranche of shares, which is in line with Seven’s offer of $7.40 per share. An independent expert’s report has valued Boral’s shares at between $8.25 and $9.13. Seven’s takeover bid is scheduled to close on 15 July.

CORPORATES
BORAL LIMITED – ASX BLD, SEVEN GROUP HOLDINGS LIMITED – ASX SVW

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