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Macmahon rejects CIMIC offer

MACMAHON Holdings has recommended its shareholders reject a $A170 million takeover offer from CIMIC after recording a net loss of $5 million for the six months to December 31.

Andrew Hobbs
Macmahon rejects CIMIC offer

The services group said in its target's statement, released today, that CIMIC's offer to buy all Macmahon shares it did not own for 14.5c each was "inadequate and opportunistic". Macmahon said it expected...

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