Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Please advise on the takeover of MACA by Thiess at $1.025. Market price is currently $1.065. Should I take up the offer or sell to the market? If I wait how long should I wait. The closing date for acceptance is 5 Sept Thanks Ken
Hi Ken,
A reminder we provide general advice only.
Thiess has indeed made an offer to MACA shareholders of $1.025 per share, which represents a 28.1% cent premium to the MACA price on the 25th of July 2022 – a fairly standard sort of premium. More recently, NRW Holdings (NWH) made a cash-and-stock offer at an equivalent value of $1.085 per share, a premium of 6c to that of Thiess, but MACA knocked it back.
This competitive tension has caused the premium to unfold, and there may be more to play out here.
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