By Simon Johanson
Spanish-owned construction giant CIMIC has launched a takeover bid to mop up the third share of house and land developer Devine it does not already own.
Devine’s share prices doubled on opening trade this morning from 12c to 24c after CIMIC’s announcement which is based on investors’ acceptance of a 24c all-cash offer for ordinary shares.
CIMIC, listed on the ASX with a market capitalisation of $6.6 billion, already controls 59.11 per cent of Devine.
CIMIC, listed on the ASX with a market capitalisation of $6.6 billion, already controls 59.11 per cent of Devine.
Credit:Getty
The offer represents a total outlay of $15.6 million for the Devine shares the construction giant doesn’t already own.
Acting Premier James Merlino says big issues are raised with Daniel Andrews who is “very supportive”.
Victoria will reimpose a mask mandate and restrictions on gatherings across Greater Melbourne from 6pm tonight after recording one new local COVID-19 infection overnight.
“As I’ve said a number of times whenever there is a big issue that we need to respond to, they’re raised with the premier,” Mr Merlino said.
“So he’s fully aware and supportive of the changes we are making.”
Mr Andrews, who is recovering from a fall, said he expects to be back in June.
• Source: 1 NEWS
There are concerns the number of community cases in Melbourne could swell today in the wake of a mass testing drive carried out yesterday.
Your playlist will load after this ad One of the nine cases identified so far attended an Aussie rules game with 23,000 other spectators, 1 NEWS correspondent Andrew Macfarlane reports from Australia. Source: Breakfast
1 NEWS Australia correspondent Andrew Macfarlane told Breakfast health authorities would reveal whether there were any more community cases about 11am.
He said the web could continue to grow, as one of the cases was among 23,000 spectators attending an AFL game over the weekend.