JOHANNESBURG (miningweekly.com) – ASX-listed contractor Cimic Group on Monday emerged as the largest shareholder in engineering firm UGL, with a 32.29% shareholding.
The company has urged UGL shareholders to accept its A$3.15-a-share cash offer, which will close on Friday.
The majority of the UGL board has recommended that investors accept the offer in the absence of a superior proposal. An independent expert has also concluded that the offer is fair and reasonable.
Edited by: Mariaan Webb
Creamer Media Senior Deputy Editor Online
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