UGL

By Robb M. Stewart

MELBOURNE, Australia--Contractor Cimic Group Ltd. (CIM.AU) said Monday it plans to make a takeover offer for the shares it doesn't already own in engineering company UGL Ltd. (UGL.AU) at 3.15 Australian dollars (US$2.39) a share in cash.

Cimic, which is majority owned by Germany's Hochtief AG (HOT.XE), said the offer price is final and unconditional. It already has a 13.8% stake in UGL.

The price represents a 47% premium to Friday's closing price for UGL, which has a market value of about A$356.3 million.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

October 09, 2016 19:24 ET (23:24 GMT)

United Group Ltd (ASX:UGL)
Historical Stock Chart
From May 2024 to Jun 2024

United Group Ltd (ASX:UGL)
Historical Stock Chart
From Jun 2023 to Jun 2024