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By Scott Murdoch and Roushni Nair
(Reuters) -Australia's Boral on Tuesday recommended investors reject its largest shareholder Seven Group Holdings' A$1.9 billion ($1.25 billion) offer for the company claiming it undervalues the building products group.
Seven Group, controlled by billionaire Kerry Stokes and his family, already owns nearly 72% of Boral and had launched a bid last month to acquire full control of Boral.
The proposal of a minimum of A$6.05 per Boral share consists of 0.1116 Sev...
>>> Read more: Australia's Boral urges shareholders to reject Seven Group's $1.3 billion offer
(Reuters) -Australia's Boral on Tuesday recommended investors reject its largest shareholder Seven Group Holdings' A$1.9 billion ($1.25 billion) offer for the company claiming it undervalues the building products group.
Seven Group, controlled by billionaire Kerry Stokes and his family, already owns nearly 72% of Boral and had launched a bid last month to acquire full control of Boral.
The proposal of a minimum of A$6.05 per Boral share consists of 0.1116 Sev...
>>> Read more: Australia's Boral urges shareholders to reject Seven Group's $1.3 billion offer
