With so much value destroyed in the mining services sector over the past couple of years rationalisation seems inevitable. CIMIC's bid for Sedgman, together with the aggressive behaviour exhibited by CIMIC at the AGMs of both Sedgman and Macmahon, is a portent of Macmahon's future.
https://au.news.yahoo.com/thewest/business/a/30559476/spotlight-on-macmahon/
Macmahon has a long and slow road back to meaningfulness in the market - the construction division has gone, the rail division has gone, the engineering division has gone, the underground division has no real relevance and the surface division relies on one exceptional contract - Tropicana. A takeover by CIMIC could well be a better outcome for many shareholders than an organic recovery.
No doubt CIMIC will be working behind the scenes with the likes of AngloGold and G-Resources in an effort to gain assurances that change of control clauses won't be exercised in the event of a takeover.
With so much value destroyed in the mining services sector over...
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Last
26.5¢ |
Change
-0.005(1.85%) |
Mkt cap ! $571.0M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.0¢ | 26.5¢ | $109.6K | 407.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 69984 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 1171 | 1 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| MAH (ASX) Chart |