Farewell Boral
It’s goodbye, Boral (ASX:BLD), as the company’s briefly rebellious independent directors accept a remade offer from Seven Group Holdings, the largest shareholder.
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Seven Group Holdings Limited
Seven Group Holdings Limited (“SGH”) is a leading Australian diversified operating and investment group with market leading businesses and investments in industrial services, oil and gas, and media. In industrial services, WesTrac Group is the sole authorised Caterpillar dealer in Western Australia, New South Wales and the Australian Capital Territory in Australia. SGH Energy is developing an expanding presence in oil and gas projects in Australia and the United States.
SGH owns Coates Hire, Australia’s largest equipment hire business; and AllightSykes, a supplier of lighting towers, generators and pumps. In media, SGH has a 41 per cent shareholding in Seven West Media, Australia’s largest multiple platform media company, including the Seven Network, West Australian Newspapers, Pacific Magazines. The Group also has a 28.6 per cent shareholding in Beach Energy Ltd and has interests in oil and gas projects in Australia and the United States.
Spotlight Videos
Airlie FM Sector Spotlight: Seven Group
Airlie FM Equity Analyst Joe Wright provides a backdrop on Seven Group, a diversified investment business operating mining and industrials companies including WesTrac, Coates and Boral.
WATCH VIDEOAll Seven Group Holdings Limited Content
News
Kerry Stokes’ Seven Group Holdings Rebuts Boral’s Rejection
Seven Group Holdings refutes Boral's rejection of its takeover bid, citing errors in the independent expert report and emphasizing the finality of its offer.
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Stokes’ bid for Boral hits road bump
Kerry Stokes’ Seven Group Holdings (ASX:SVW), hoping for an easy mop-up bid for the rest of Boral (ASX:BLD), has hit heavy going with the target company telling shareholders on Tuesday to reject the offer.
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Seven Group’s bid for Boral targets minority stakeholders
Kerry Stokes' Seven Group (ASX:SVW) is bidding to acquire the 28.4% minority stake in Boral (ASX:BLD) with an offer that, despite its $6.05 per share price, holds a mere 20 cents premium to Friday's closing sale of $5.85.
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Seven Group maintains steady dividend despite record revenue and earnings
Seven Group Holdings (ASX:SVW), led by Kerry Stokes, has once again demonstrated its resilience in the face of economic fluctuations, announcing record revenue and earnings for the December half-year period. However, in a move reflecting its strategic approach to financial management, Seven Group has opted to maintain its interim dividend at 23 cents per share for the seventh consecutive six-month period.
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Analyst Views
SVW – UBS rates the stock as Buy
The target rises to $27.15 from $26.25 after marking-to-market listed investments and making minor EPS upgrades.
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SVW – UBS rates the stock as Buy
Buy rating retained with the target dropping to $27.35 from $27.50.
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SVW – UBS rates the stock as Buy
UBS notes WesTrac's revenue is up 15% year-on-year and Coates revenue up 2%. WesTrac has recently won 2 major truck and ancillary fleet orders with Fortescue Metals ((FMG)).
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SVW – Credit Suisse rates the stock as Outperform
Credit Suisse has assessed the mining aftermarket industry, which is the company's higher multiple division, and believes this offsets weakness within the lower-multiple equipment hire division.
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