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Murray & Roberts rebuffs ATON takeover bid again

Murray & Roberts says ATON’s latest offer of R17 a share is below the board’s value range.
Murray & Roberts rejects ATON bid. Picture: Moneyweb

The independent board of South African construction group Murray & Roberts on Tuesday rebuffed the latest takeover bid offer by German investment house ATON, potentially setting the stage for another round of protracted wrangling.

ATON’s latest offer of R17 a share “remains below the independent board’s guided fair value range of R20.00 to R22.00,” Murray & Roberts said in a statement.

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