Seymour Whyte appears to have become the latest engineering group to succumb to a takeover after the Brisbane-based group's shares soared and it said it would announce a "control transaction".

The Brisbane-based company's stock jumped 10¢ in early trading on Tuesday to $1.10 before being halted. Industry sources said there was speculation the buyer could be South African-owned WBHO Infrastructure, which is listed on the Johannesburg Securities Exchange and owns building contractors Probuild and Monaco Hickey.