Worley (ASX:WOR) responds to creeping acquisitions by Dar Group

16Oct

Worley (ASX:WOR) responds to creeping acquisitions by Dar Group

 

Engineering company Worley (ASX:WOR) has notified the ASX of its operations to the Foreign Investment Review Board, in the context of possible creeping acquisitions by its largest shareholder, Dar Group.

Worley also confirms that it has engaged with Dar regarding such further share acquisitions and requests by Dar for Worley Board representation and for a comprehensive business cooperation agreement with Worley.

The Worley Board believes that it is not in shareholders’ interests for Dar to further increase its shareholding in Worley by creeping acquisitions or for Worley to enter into a business cooperation agreement with Dar.

Shares in Worley (ASX:WOR) trading 2.8 per cent higher at $13.47.

 
Copyright 2019 – Finance News Network


Source: Finance News Network

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