CIM - CIMIC GROUP LIMITED

[early birds]

LEI /CIMIC??

 

 

why i had {john holland ] is the former LEI[ it is a parent Co.] in my mind??

 

 

 

[nipper]

Leightons acquired John Holland in 2000

 

Leightons was subject to Cimic creeping acquisition for about a decade. Rebranded as Cimic but still listed with a small free-float

 

Cimic is a multi-headed beast - also now owns UGL, Theiss and Sedgman (among many others).

 

Basically, its either Cimic or the bush. LendLease give it a run, plus other European and Asian contractors moving in because of the infrastructure spend. Typical multinational behaviour, but then with the size of projects these days, the balance sheet needs to be correspondingly large (no one ever got fired for buying IBM)

[ShareCafe Admin]

New article up.

 

CIMIC Keeps Div Promise Despite Earnings Dip

 

Thanks

 

Admin

[nipper]

Spanish construction company ACS is making a $1.5 billion bid to take full control of Australia’s CIMIC Group, potentially ending CIMICs 60 year stint on the Australian Securities Exchange and its decade long power struggle with its biggest investor.

ACS, via its subsidiary Hochtief, has offered $22 a share for all the CIMIC shares it does not already own. The offer was unconditional.  The bid was made at a 33 per cent premium to CIMICs last traded price and valued the company equity at about $8 billion.

The deal would see CIMIC, one of the biggest players in Australia’s construction sector, delisted and fully foreign owned. The group has nearly 30,000 employees.

[nipper]

Cimic, the biggest construction group in Australia, has stopped trading on the Australian Securities Exchange, ending 60 years as a publicly listed company as it is folded into Spanish contractor Grupo ACS.

The last day of trading for Cimic securities was on Friday afternoon after its controlling German shareholder Hochtief, which is owned by ACS, proceeded with the compulsory acquisition of the few remaining shares it had not already acquired in a $1.5 billion takeover.