Bradken investors embrace Hitachi bid

Investors welcome Hitachi Construction Machinery’s plan to acquire Australian rival Bradken. But some analysts say the deal means shareholders will miss out on a promising turn-around.

Bradken investors embrace Hitachi bid

Japan’s Hitachi Construction Machinery HCM announced on Monday that it would pay A$3.25 per share to buy a 100% stake in Bradken. That gave investors a 34% premium to the last close and a 90% premium to the 90 days volume weighted average price.

The deal values the Australian company at $688.5 million on a market capitalisation basis, or at an enterprise value of A$976.1 million. It also brings to an end a roller-coaster ride...

To continue reading, please login or register for free

Click for more on: privatisation | valuation | ma | industrials | acquisitions

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...