Boral independent directors say Stokes’ bid undervalues group
Simon EvansSenior reporter
Updated
Boral’s independent directors have urged shareholders in the cement and asphalt group to reject a $1.9 billion buyout offer by the billionaire Stokes family’s Seven Group because it undervalues the company.
But Boral chairman Ryan Stokes, who is also the chief executive of Seven, disputed the board’s recommendation.
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