M&R withdraws Aveng merger proposal
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8th August 2018
By: Anine Kilian
Contributing Editor Online
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The company announced last week that it was reviewing the decision by the Takeover Special Committee (TSC) to overturn the June decision by the Takeover Regulation Panel that enabled M&R to proceed with plans for a potential merger with Aveng, despite a mandatory offer by M&R shareholder ATON to acquire all shares in M&R it does not already own.
“The board has resolved not to take the TSC’s decision on review at this time and continues to reserve its rights in this regard.
It has also acquired a 25% interest in Aveng.