Boral's shares rose as much as 4% to A$7.06, their highest since October 2018, after the building and construction materials supplier revealed its deal to sell the U.S.-based business in a disclosure responding to Seven's bid.
Seven owns 23.18% of Boral, and made the offer in May after failing to raise its stake to 30% due to regulatory setbacks."Our view is that Boral should have secured more. This business has been outperforming while the Australian business is under-performing," a Seven spokesperson said in an email."Seven Group made a bid that was expected to get turned down to clear the way for them to keep buying more," said Mathan Somasundaram, CEO at Deep Data Analytics.
One decision changed my life! I decided to act on faith instead of fear. I'm now reaping the reward of that bold step and making more money than I could ever imagine. I highly recommend you to trade your bitcoin with _Alexander56
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TODAYshow - 🏆 389. / 55 Read more »