Seven Group Holdings declares unconditional takeover bid for Boral

Seven Group Holdings Limited (ASX: $SGH) has announced that its off-market takeover bid for all the ordinary shares in Boral Limited (ACN 008 421 761) is now free from all conditions. Shareholders who accept the offer will be issued SGH Shares and sent payment within 7 business days. The offer is currently scheduled to close at 7.00pm (Sydney time) on 4 April 2024.

Executive Commentary on Unconditional Takeover Bid

The improved payment terms and the declaration that the offer is now free from all defeating conditions demonstrate our commitment to the acquisition of Boral Limited. We believe that these developments will provide greater clarity and confidence to Boral shareholders as they consider their options. We are excited about the potential of this acquisition and look forward to the opportunity to work closely with Boral's shareholders and stakeholders.

Summary of Unconditional Takeover Bid and Outlook

Seven Group Holdings Limited (ASX: $SGH) has declared its off-market takeover bid for Boral Limited (ACN 008 421 761) as unconditional, signaling a significant step forward in the acquisition process. The improved payment terms and the removal of defeating conditions aim to enhance the attractiveness of the offer to Boral shareholders. The company's voting power in Boral is now at 62.4%, indicating a substantial position in the acquisition target. Looking ahead, Seven Group Holdings is poised to proceed with the acquisition, and the company's strategic ambitions and goals are aligned with the successful completion of this transaction.