From the AFR: Cimic takeover draws to an end The $1.5 billion...

From the AFR:

Cimic takeover draws to an end

The $1.5 billion hostile takeover offer for Australia’s biggest construction company has been extended again despite bidder Hochtief securing more than 96 per cent of Cimic’s shares, allowing it to compulsorily purchase stock from minority shareholders.

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Because it owns more than 90 per cent of Cimic, Hochtief has the power to compulsorily buy up the remaining shares and has passed the crucial 95.92 per cent threshold that allows for immediate acquisition.