Boral chief executive Zlatko Todorcevski says the group’s 80,000 shareholders “deserve better” than a lowball and opportunistic offer from the Kerry Stokes-controlled Seven Group designed to increase its influence over the company without paying fair value.
An independent expert report by advisory firm Grant Samuel values Boral shares at between $8.25 to $9.13, which is between 26.9 per cent to 40.5 per cent higher than the Seven Group cash offer of $6.50 a share made on May 10.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
