Cimic investors have complained that a $1.5 billion hostile takeover bid does not represent fair value for the construction group’s shares, and one has labelled it “a lousy offer”.
“I’m not happy,” Mr Fonti said. “Hochtief is buying a bargain … I reckon that it’s a lousy offer, it’s the same price as it was in 2014.”Renee Nowytarger And it is much lower than the price Cimic’s shares were trading at in 2018-19, when they fetched between $40 and $50 a share.Another shareholder, Alan Kirk, said investors were paying Hochtief to take away Cimic’s future earnings. “I don’t believe this is a fair long-term price,” Mr Kirk said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Skills shortages crimping growth says Cimic CEOCimic boss Juan Santamaria has warned skills shortages are hampering the construction group’s growth and that it is buying materials for projects early and storing them as it grapples with rising costs. Skills are generally attached to people, aren't they? australia should increase the immigration intake especially for skilled workers The company that is repeatedly embroiled in pay scandal..
Source: FinancialReview - 🏆 2. / 90 Read more »
Nearly 1,400 Afghans granted emergency visas never made it to AustraliaSenate inquiry calls on government to reinstate 1,398 lapsed humanitarian visas originally granted after Taliban takeover CAN'T TRUST ScottMorrisonMP If Australia gets a new govt in May, I realise there are 400 urgent issues to address, but can this please be in the Top 20?
Source: GuardianAus - 🏆 1. / 98 Read more »
Where this $2trn giant says returns are heading in the next five yearsT. Rowe Price says investors will need to lower their expectations and take more risks with ugly fixed income returns set to smash balanced portfolios. NGMI RIP TradFi
Source: FinancialReview - 🏆 2. / 90 Read more »
What’s driving Perpetual’s $2.4b bid for PendalThe unrelenting pressure passive investing has placed on the fees and funds under management of Perpetual and Pendal helps explain the takeover play.
Source: FinancialReview - 🏆 2. / 90 Read more »
BGH Capital fights back with fresh cash offer for VirtusThe private equity firm has made an unconditional, off-market, takeover offer of $8 cash per share in a last-minute attempt to lure shareholders.
Source: FinancialReview - 🏆 2. / 90 Read more »
BGH lobs new Virtus Health bid at $8, ready to start buyingBGH Capital is hitting back with an $8 a share unconditional bid for Virtus Health.
Source: FinancialReview - 🏆 2. / 90 Read more »