May 26th 2008
JOINT ASX /MEDIA RELEASE
Macmahon Holdings Limited last week announced an unsolicited takeover offer for all of the shares in Ausdrill Limited (ASX Code: ASL).
The Ausdrill Board has conducted an initial review of the proposed all scrip offer and believes that the offer is inadequate and opportunistic.
Ausdrill has appointed Lazard Carnegie Wylie and Argonaut Capital Limited as corporate advisors and Cochrane Lishman as legal advisors.
The Board will continue to review the proposed offer with its advisors and will provide further advice to shareholders in due course. Meanwhile shareholders are encouraged to take no action.
About Ausdrill
Ausdrill is a diversified mining and services company providing leading edge services in mining, drill & blast, exploration, procurement & logistics, manufacturing, telecommunications and automotive industries with operations in Australia, the United Kingdom and Africa.
Ausdrill has established a blue chip client list over many years, with whom the company has long term relationships.
Contact Caroline de Mori
Purple Communications
Mobile 0418919064
Email cdemori@purplecom.com.au
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Ausdrill Limited
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CODE : ASL.AX |
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Ausdrill is based in Australia. Ausdrill is listed in Australia. Its market capitalisation is AU$ 702.6 millions as of today (US$ 482.3 millions, € 434.2 millions). Its stock quote reached its highest recent level on April 06, 2012 at AU$ 3.37, and its lowest recent point on February 12, 2016 at AU$ 0.18. Ausdrill has 312 280 000 shares outstanding. |