spanish giant ferrovial bids for australias broadspectrum
Last Updated : GMT 12:34:34
Arab Today, arab today
Arab Today, arab today

Spanish giant Ferrovial bids for Australia's Broadspectrum

Arab Today, arab today

Arab Today, arab today Spanish giant Ferrovial bids for Australia's Broadspectrum

Shares in Australian company Broadspectrum have soared after Spanish construction giant Ferrovial
Sydney - AFP

Shares in Australian company Broadspectrum soared on Monday after Spanish construction giant Ferrovial returned for a second tilt at the services provider, a year after an initial bid was knocked back.

Madrid-listed Ferrovial had offered Aus$2.0 a share in October last year, valuing Broadspectrum, then known as Transfield Services, at around Aus$1.0 billion (US$733 million), but it was rejected as poor value.

Since then Broadspectrum shares have slumped and Ferrovial, which specialises in infrastructure and construction with a presence in more than 25 countries, returned with a new all-cash Aus$1.35 a share offer.

This was a 59 percent premium to Broadspectrum's closing price on Friday, with the stock flying more than 50 percent higher to Aus$1.31 on Monday.

The Spanish multinational's chief executive Inigo Meiras said in the bidder's statement that, "Ferrovial is making a long-term decision to seek to establish a presence in the Australian market".

"The offer price is compelling value for Broadspectrum shareholders."

Broadspectrum, which has battled falling earnings in its resources and industrial business and uncertainty over a contract to maintain offshore detention centres for the Australian government, recommended shareholders "take no action".

"The board of Broadspectrum will consider the offer and advise shareholders of its views shortly," added the firm, which provides electrical, commissioning, and mechanical services to the resources, industrial and construction sectors.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spanish giant ferrovial bids for australias broadspectrum spanish giant ferrovial bids for australias broadspectrum

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

spanish giant ferrovial bids for australias broadspectrum spanish giant ferrovial bids for australias broadspectrum

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday