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Archer may need to raise Boom offer

It may take a bid of at least 58¢ a share for Boom’s board to accept the takeover offer.

Jamie Freed and Sarah Thompson
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Stockbroker Wilson HTM suggests that private equity group Archer Capital, or any other company making a takeover bid for crane operator Boom Logistics, will have to put forward an offer of 58¢ a share to have a reasonable chance of success.

Acting in conjunction with Queensland transport services firm McAleese Group, Archer has made an incomplete proposal to buy Boom for 52¢ a share, or $240 million. The Boom board is yet to form a view on the proposal.

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Original URL: https://www.afr.com/companies/infrastructure/archer-may-need-to-raise-boom-offer-20100604-iuaj7