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$22.00 cimic group limited

Ann: CASH OFFER OF $0.24 PER SHARE FOR DEVINE BY CIMIC, page-18

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turbo3000

441 Posts.

33

26/05/21

00:37

Post #: 53413529
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Originally posted by g12m0: ↑

From the AFR:

“The Devine Group’s biggest minority shareholder, Brazil Farming, is expected to accept a new $15.6 million takeover offer from construction group Cimic unless a higher bid is put on the table for the residential property company.”

“We think we should take it,” Mr Brazil said.

Cimic, Australia’s biggest construction group, is having a second swing at buying Devine, making a new cash offer after failing to secure the whole residential property group five years ago.

Cimic’s previous offer in late 2015 was priced at 75¢ a share.

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When you factor inflation, seems like a bargain.

CIM Price at posting: $21.46 Sentiment: Hold Disclosure: Held
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