Kerry Stokes is slowly but surely winning control of building and construction materials group Boral, and minority shareholders can do nothing about it.
Boral chief executive Zlatko Todorcevski wants investors to focus on the Grant Samuel valuation of his business between $8.25 and $9.13 a share.
The reason is clear. The upper end of this valuation range is 34 per cent higher than where the stock was trading on Thursday and 40 per cent higher than the $6.50 price of the nil-premium takeover offer from Seven Group Holdings.
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Tony Boyd is the former Chanticleer columnist. He has more than 35 years' experience as a finance journalist. Connect with Tony on Twitter. Email Tony at tony.boyd@afr.com
