Perenti Global has shut down speculation it is advancing a potential merger and acquisition (M&A) deal, with Macmahon Holdings named as the possible company being targeted.
According to a report on The Australian yesterday, there were suggestions the mining services provider approached Macmahon several weeks ago with a merger proposal.
The story also indicated Perenti then approached mining services provider Imdex about a merger or potential acquisition.
However, Perenti denied the media speculation surroundings its recent M&A attempts in a company statement.
“Perenti Global Limited notes the recent media speculation relating to Perenti and potential merger and acquisition activities,” the company stated.
“Perenti can confirm it has not been a party to any recent merger or acquisition activity.”
Perenti reportedly made earlier attempts to execute a deal with Macmahon in 2020.
Ausdrill was re-branded as Perenti after it acquired underground hard rock contractor Barminco in 2018, in a deal worth $271.5 million.
The acquisition created Australia’s second largest mining services company at the time.
Headquartered in Perth, Perenti’s operations and offices span 11 countries, and the company is currently involved in some of the world’s largest mining projects.
The Perenti joint venture is currently contracted at projects such as the Kalgoorlie Consolidated Gold Mines (KCGM) Super Pit in Western Australia, the Karara iron ore mine in the WA’s Mid West and the Gruyere gold mine in WA.
Perenti also has work in the coal-rich regions of Queensland, along with representation in Tanzania, Mali and Senegal.
In July, Perenti was awarded a $470 million contract for surface mining services at AngloGold Ashanti’s Iduapriem gold mine in Ghana.
Perenti has a global workforce of close to 8000 people.