Clough board gives nod to M&R buyout
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.