Seven Group pounces with $8 billion bid for Boral
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Billionaire Kerry Stokes industrial conglomerate Seven Group Holdings has launched an ambitious takeover offer for Boral that values Australiaâs largest listed supplier of building products at $8 billion.
Seven Group made the offer for the shares in Boral it does not already own on Monday evening after market close. Seven already holds a 23.2 per cent stake in the group.
Seven Group chief executive Ryan Stokes will reduce his duties on Boralâs board while the offer is open.