Transfield makes £358m takeover bid

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first_imgSunday 12 December 2010 11:02 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp Show Comments ▼ whatsapp Tags: NULL Sharecenter_img Transfield makes £358m takeover bid KCS-content Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap THE AUSTRALIAN contractor Transfield Services plans to buy Easternwell, a well services business, for $566m (£358m) and will sell new shares to help fund more than half the deal.The acquisition of the well servicing and construction firm will give Transfield more high-value work, the company said early today.Easternwell works in the mining, oil and gas and infrastructure sectors, with major customers like BHP Billiton, Chevron, Rio Tinto and Woodside.Transfield expects Easternwell to add more than A$40m (£25m) to the group’s earnings before interest, tax, depreciation and amortisation (EBITDA) in the six months to June 2011 and will boost earnings per share from the first full year.It reiterated it expects mid-single digit growth in net profit before one-offs for the year to June, as long as economic conditions do not turn down.Transfield plans to raise A$294m through a 2-for-9 non-renounceable entitlement offer priced at A$3 a share, a 14 per cent discount to its close last Friday, fully underwritten by JP Morgan Chase. The sale to institutional shareholders is open today and tomorrow, while the retail component will close on January 12.Transfield also said it has refinanced A$915m in debt facilities, extending maturities to between 2013 and 2015. last_img

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