Mining offer
London-based engineering group Amec has made a cash offer of approximately AUS$106m to acquire Australian mining services company GRD.
London-based engineering group
has made a cash offer of approximately A$106m (£52m) to acquire Australian mining services company
.
Earlier this week, GRD said it had received a proposal from Amec for the acquisition of all of the shares in GRD for a cash offer of A$0.55 per share.
Amec has confirmed the proposal and stated that the deal would complement its operations in the mining sector.
According to GRD, the proposal is conditional and negotiations are ongoing, however, the group said it would make no further announcements about the deal until a binding agreement has been made.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Comment: The UK is closer to deindustrialisation than reindustrialisation
But is VAT to blame? Manufacturers are taxed on the value added to a product, lets say a billet of steel is purchased. They add value by shaping and...