Boral Backs Seven's "Enhanced" Offer

Apr 10, 2024

∙ Paid

After Boral (BLD AU) rejected Seven Group (SVW AU)'s cash/scrip Offer, Seven slammed the Independent Expert's report, calling the Target Statement "unbalanced, selective and risks fundamentally misleading Boral minority shareholders".
Seven has now waived certain tendering thresholds, increasing the cash terms to A$1.70/share from A$1.50/share. Boral will also pay a fully-franked dividend of A$0.26/share, providing A$0.11/share of franking credits.
The IE now considers the Offer to be reasonable. Boral's board recommends shareholders to accept. This is done.

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