Boral's Response to SGH Offer

Boral Limited (ASX: $BLD) has recommended its shareholders to take no action in response to the off-market takeover offer from Seven Group Holdings Limited (SGH). SGH has dispatched the bidder's statement for its off-market takeover offer of 0.1116 SGH shares and $1.50 cash for each Boral share that it does not already own. Boral's independent directors will communicate their recommended response to the SGH Offer in Boral's Target's Statement, expected to be issued by 19 March 2024.

Executive Commentary

At this stage, shareholders are advised to take no action in response to the SGH Offer. After receiving Boral's Target's Statement, shareholders will have sufficient time to make an informed decision and respond to the SGH Offer. The Independent Board Committee will continue to keep shareholders fully informed of key developments. Boral will also set up a shareholder information line over the coming weeks, which shareholders can call for further details.

Summary of SGH Offer Response

Boral Limited (ASX: $BLD) has advised its shareholders to take no action in response to the off-market takeover offer from Seven Group Holdings Limited (SGH). The Independent Board Committee will communicate its recommended response to the SGH Offer in Boral's Target's Statement, expected to be issued by 19 March 2024. Shareholders will have sufficient time to make an informed decision and respond to the SGH Offer after receiving Boral's Target's Statement. SGH has stated that the Offer consideration will be increased by $0.10 per Boral Share in cash under certain conditions. Boral will keep shareholders fully informed of key developments and provide further details through a shareholder information line.