ATON raises stake in South African target Murray & Roberts to 40 pct

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JOHANNESBURG (news wire) – German investment house ATON has raised its stake in South African builder Murray & Roberts to nearly 40 percent, it said on Tuesday.

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ATON, which already held about a third of the stock, is in the middle of a $400 million takeover bid for the rest of Murray & Roberts.

The bid has been rejected by Murray and Roberts, which itself has started all-share merger talks with rival Aveng.

Reporting by Tiisetso Motsoeneng; editing by Jason Neely

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

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