Boral Ltd: Seven's Done Deal. What Happens Next?
After Boral Ltd (BLD AU)'s board rejected Seven Group Holdings (SVW AU)'s $6.50/share Offer in its Target Statement of 9 June, Seven bumped its Offer on the 25 June, stating it would pay $7.30 cash if they get to 29.5%, and up to $7.40 cash if they get to 34.5%.
Seven reached 29.5% by July 1, 34.5% less than a week later, then 52.65% on the 15 July. Clearing 50% automatically extended the Offer period (pursuant to s624 of the Corporations Act) to the 29 July - i.e. a two-week extension.
As of this morning, Seven held 59.23%.
With the Offer tentatively expected to close in a week's time, now is a good time to address a handful of questions I and other readers have raised.
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