Business Maverick: Murray & Roberts: A game of cat and mouse

Investors in Murray & Roberts are holding their collective breaths while they wait to see whether Aton, the German investment company that is hell-bent on acquiring control of it will pursue the acquisition following the recommendation by the Competition Commission that the merger be prohibited.

Having come this far it seems unlikely that Aton will walk away. The company has been stalking Murray & Roberts since acquiring shares in 2015 and launching an outright bid for control in March 2018. It holds about 45% of the issued shares and recently extended the long stop date on its mandatory offer to all Murray & Roberts shareholders to the end of September, pending a decision from the competition authorities.

The Competition Commission is concerned that the merge of these mining businesses will be anti-competitive.The merging parties are close competitors and … this transaction will, for both parties, result in the removal of their closest and strongest competitor,” the statement from the Commission read.

While the commissioners would have considered these arguments, Burger-Smidt, wonders whether the development of an African, and possibly global champion, would not be in South Africa’s better interests?Long gone are days when it is easy to mine underground. We need to do things better, innovative technology and know-how is required and this comes at a cost.”

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Goldman Sachs Says Yen Offers a More Attractive Hedge Than GoldInvestors looking at haven assets to protect against a risk-off shock should find the yen a cheaper option than gold, according to Goldman Sachs Group Inc.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Tuesday, 23 July: Five Things You Need to Know to Start Your DayIran ratcheted up tensions by revealing plans to execute spies it says were CIA-trained. Donald Trump hopes Xi Jinping will do the right thing in Hong Kong. And Huawei’s fortunes may be about to change. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Naspers’ extraordinary salariesExecutive pay is a contentious issue. What is fair and reasonable in a company with a market capitalisation of R1.5-trillion is not necessarily the same as in a company half the size. While the war for talent in the hi-tech space arguably drives salaries into the stratosphere, where is the limit? What cannot be argued is that after maintaining a stubborn indifference to shareholder concern, Naspers is doing its best to coax shareholders to its point of view. sashaplanting Why not? These okes are money magnets
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Ten months and counting, VBS looters are still at largeNo one is willing to take the blame for the looting of almost R2-billion of depositor funds from municipalities, stokvels and the elderly in Limpopo. Not even the Public Investment Corporation, which sank R458-million belonging to public servants into VBS Mutual Bank. They are not at large they are living large. They’re not at large they sitting in parliament. Vbs VBS vbs 🐘
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK ANALYSIS: Oil in murky waters as geopolitical tensions mountThe crude oil price is caught in several cross-currents, including mounting UK/US and Iranian tensions and unfavourable supply-demand dynamics. Both oil and gold have responded in a subdued fashion to Iran seizing a UK oil tanker. Is this the calm before the storm?
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Wednesday, July 24: Five Things You Need to Know to Start Your DayTrade talks between China and the U.S. are back on. And Beijing would like Washington to keep its mitts off of Hong Kong. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »