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Austrlaia's Multiplex receives approach for takeover talks

Austrlaia's Multiplex receives approach for takeover talks

Australian construction company Multiplex Group Ltd. said Thursday it was in talks with a third party that could lead to a proposal to take over the firm, troubled by delays in its redevelopment of London's iconic Wembley Stadium.
"Multiplex advises that it has received a request from a third party to commence discussions on a confidential basis which may lead to a proposal being put in relation to the acquisition of Multiplex securities and/or assets," the Sydney-based company said in a statement to the Australian Stock Exchange.
"Multiplex is not aware of details of any possible proposal and wishes to emphasize that there is no guarantee that any proposal will be forthcoming," it added.
The company said formal discussions will begin in the next few weeks, and that the third party concerned has had preliminary talks with Multiplex's largest stockholder, Roberts Family Nominees. The Roberts family founded the company 40 years ago.
The group has recorded multimillion dollar losses in its construction division over recent years due to several protracted delays in its Wembley Stadium project.


Updated : 2021-06-19 03:10 GMT+08:00