Chanticleer

Boral investors would be silly to sell to Stokes

Now Boral has rejected Seven’s takeover offer for the group, we can see the bid for what it is – a giant stock tip from one of Australia’s smartest business families.

Updated May 11, 2021 – 2.43pm, first published at 10.28am

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You’ve got to admire the cleverness of the Stokes family’s latest attempt to get a bigger chunk of the resurgent building materials giant Boral.

Not satisfied with “creeping” up the Boral register by buying an extra 3 per cent of the company every six months, as they are entitled to do under corporate law, Kerry and Ryan Stokes’ Seven Group Holdings has launched a takeover to get a bigger slice of the action.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.