Clough board gives nod to M&R buy­out

Weekend Argus (Saturday Edition) - - BUSINESS -

SHARE­HOLD­ERS of Clough Ltd had given ap­proval for Mur­ray & Roberts to buy the re­main­ing shares in the Aus­tralian engineering firm it does not al­ready own, M&R said yes­ter­day.

Mur­ray & Roberts is South Africa’s sec­ond- largest con­struc­tion com­pany by mar­ket value.

It of­fered in July to buy the 38 per­cent of Clough it did not own.

The com­pany said the deal was still sub­ject to the ap­proval of the Fed­eral Court of Aus­tralia.

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