Chanticleer
Boral’s minority shareholders left guessing
Australia’s largest building materials company is keeping investors in the dark about its price increases while walking away from the commitment made in 2021 to slash costs by $200 million to $250 million.
When the Stokes family’s Seven Group Holdings took control of Boral last year in a takeover priced at $7.40 a share, there was a sense that the rump of minority shareholders who held on to their shares had made a strategic mistake.
It is hard to know exactly what motivated the holdouts who now own 31 per cent of the company, but there is a high probability they placed a lot of weight on the promises made by the company during its defence against the Seven Group takeover.
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