Leading mining contractor CIMIC Group has launched an unconditional takeover bid for Perth-based mining services company, Macmahon Holdings.
CIMIC’s Thiess and Sedgman subsidiaries have won $105 million worth of Queensland coal contract extensions.
Sedgman has agreed to CIMIC’s takeover offer.
CIMIC, owner of contractors Leighton and Thiess, has made a move to acquire 100 per cent of Sedgman.
CIMIC, the parent company of mining contractors Thiess and Leighton, have announced an on-market share buyback.