Source: The Australian Financial Review. By: Larry Schlesinger. It took most of 2018, but Belgian construction giant Besix finally snared its prey just before Christmas, with the takeover of iconic Queensland construction company Watpac Limited. December 24 was the final ASX trading day for Watpac,......
Source: The Australian Financial Review. By: Larry Schlesinger. Activist investor Sandon Capital has slammed the independent directors of listed construction firm Watpac for recommending shareholders sell out to Belgian firm Besix at 92¢ a share. Besix’s ownership of Watpac has nudged up to 50 per......
Source: The Australian. By: Robyn Ironside. Watpac shareholders have delivered a strong rebuke to the board by voting down a 92c-a-share offer from Belgian giant Besix to acquire two-thirds of the Australian construction company. The Watpac board and the second-biggest shareholder, Commonwealth Bank, had backed......
Source: The Australian Financial Review. By: Larry Schlesinger. Watpac suitor Besix has warned it will sell out entirely from the ASX-listed contractor and mining services company if shareholders don’t vote in favour of its two-thirds takeover. The Belgian construction giants proposal to lift its stake......
Source: The Australian Financial Review. By: Larry Schlesinger. Belgium construction giant BESIX’s proposals to take majority control of ASX-listed Watpac is facing opposition, with activist investor Sandon Capital warning the deal does not represent good value to existing shareholders. A month ago, BESIX struck a deal......
Source: The Australian Financial Review. By: Larry Schlesinger. Activist investor Sandon Capital will agitate for boardroom changes at Watpac, after Belgian construction giant Besix failed in its bid to secure two-thirds ownership of the ASX-listed contractor and mining services group. At a meeting in Brisbane......
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