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.
Read MoreSeven Group Holdings refutes Boral's rejection of its takeover bid, citing errors in the independent expert report and emphasizing the finality of its offer.
Read MoreKerry 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.
Read MoreKerry 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.
Read MoreSeven 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.
Read MoreKerry Stokes' conglomerate, Seven Group Holdings (ASX:SVW), can attribute its robust revenue and earnings growth of over 20% to the stellar performance of its industrial entities, namely WesTrac, Coates, and Boral, during the fiscal year ending on June 30.
Read MoreFor all the upbeat talk, Seven Group’s decision to hold its dividends steady for FY2021-22 tells us a lot regarding what the company really thinks about the coming financial year.
Read MoreThe market saw something it didn’t like in Seven Group’s half-yearly earnings report on Tuesday, marking its shares down 7% at one stage despite the numbers looking rock solid.
Read MoreThe target rises to $27.15 from $26.25 after marking-to-market listed investments and making minor EPS upgrades.
Read MoreValue trades often emerge when a great business sits within a mediocre sector, or when the market assigns an arbitrary discount to a type of business. For Airlie, Seven Group Holdings falls into both categories.
Read MoreKerry Stokes is retiring as the chairman of his majority-owned Seven Group Holdings after the company turned in a solid result, and the market didn’t particularly like the news.
Read MoreKerry Stokes and Seven Group have less than a week to go on their $8.5 billion bid for Boral but questions continue about the financial health of the post-bid group.
Read MoreDid Kerry Stokes’ Seven Group Holdings really want to get more than 50.01% of the issued capital of Boral and take on all the problems of a majority-owned subsidiary?
Read MoreKerry Stokes’ Seven Group Holdings has lifted its stake in Boral to 35%, giving it control and bringing to an end its battle with the Boral board and management.
Read MoreBoral has told shareholders to reject the $6.50 a share cash, $8 billion offer from major shareholder Seven Group Holdings, which is controlled by Perth-based billionaire, Kerry Stokes.
Read MoreBillionaire Kerry Stokes’ Seven Group Holdings has launched an $8 billion takeover offer for Boral – but doesn’t want the offer to fully succeed.
Read MoreSuddenly Kerry Stokes has a problem in his business empire that won’t be cheap to fix, involving Seven Group Holdings’ 30+% stake in Aussie oil and gas explorer Beach Energy.
Read MoreSeven Group said on Tuesday that it had raised $500 million from institutional investors with strong support from domestic and international investors at $22.50 per new share.
Read MoreBuy rating retained with the target dropping to $27.35 from $27.50.
Read MoreRupert Murdoch’s News Corp recently raised more than $A1.3 billion and now Kerry Stokes wants half a billion dollars for his Seven Group Holdings master company to reduce debt.
Read MoreKerry Stokes’ master company, Seven Group Holdings has delivered a 12% rise in full-year revenue to $4.56 billion, thanks to the boom in iron ore spending in WA which saw big benefits for its Caterpillar equipment business and its work associated with the mining industry.
Read MoreUBS 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)).
Read MoreThe New Criterion’s Tim Boreham highlights several mining services contractors, large and small, and their potential at this time.
Read MoreThe listed Australian media sector took a hammering yesterday when the best performed of the handful of companies – radio and regional TV operator, South Cross Austereo warned of a sharp slowdown in revenue in the first months of 2019-20.
Read MoreCredit 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.
Read MoreKerry Stokes’ Seven Group Holdings rode the rebound in resources and the surge in infrastructure spending very nicely in the year to the end of June – and so did the shares, yesterday, continuing this year’s long surge higher.
Read MoreThe rebound in the fortunes of Kerry Stokes was confirmed yesterday when his key company, Seven Group Holdings upgraded its earnings guidance, which in turn saw its share price surge to a record high.
Read MoreDid Kerry Stokes and the Seven Group board blink in the wake of the huge surge in debt the company would be carrying after the purchase of the 53% of Coates Hire it doesn’t already own?
Read MoreIt’s been talked about for years, mentioned for months and then negotiated for almost as long – or so it seems from the numbers of reports to that effect – we are talking about Kerry Stokes’ key company, Seven Group Holdings finally buying the 53% of Coates Hire it didn’t own from Carlyle Group and others for $517 million.
Read MoreKerry Stokes’ main company, the Perth-based diversified media, mining equipment and energy group, Seven Group Holdings (SVW) has produced a return to earnings after the write-downs of last year (especially at Seven West Media), but this doesn’t presage an upturn in performance in the 2016-17 year.
Read MoreMore bad news from the business empire of Kerry stokes – a week ago it was Seven West Media (SWM) shocking investors at its annual meeting with the news of a cut in its first half profit estimate of up to 10% because of a downturn in ad revenue growth.
Read MoreKerry Stokes’ Mining services company WesTrac is a believer in the coal industry, especially in China, judging by yesterday’s announcement of a significant expansion in China.
Read MoreA swingeing restructure from Kerry Stokes’ main listed company, Seven Group Holdings (SVW) with more than 600 job losses announced, taking the number cut from the huge Caterpillar franchise operator to close to more than 1,000 in the past five months.
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