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Aveng shares surge 29% on merger talks with Murray & Roberts

Murray & Roberts said it proposed to make an all share offer to acquire Aveng’s stock.
Aveng shares surge on potential merger. Picture: Moneyweb

South Africa‘s Murray & Roberts and construction firm Aveng said on Friday they have agreed in principle on a potential merger, sending Aveng shared more than 29% higher.

Murray & Roberts said in a statement it proposed to make an all share offer to acquire Aveng’s stock in order to create a large multinational engineering and construction group, triggering a 3%  fall in its shares.

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