AUSTRALIA

Leighton shares under the microscope

THE Australian Securities and Investments Commission will review trading in Leighton shares following a price surge prior to majority shareholder Hochtief announcing its plan to raise its stake in the Australian contractor to almost 75%.

Marion Lopez

Hochtief announced a $1.16 billion share buying offer on Monday to acquire three out of every eight Leighton shares held at a price of $22.15 cash per share - an 18.8% premium over the dividend-adjusted...

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