Cimic continues on acquisition trail with Macmahon bid

Contracting group Cimic on Tuesday unveiled a planned takeover of Perth-based project house Macmahon, only months after it made a bid for engineering firm UGL. Cimic advised Macmahon shareholders that it intended to offer A$0.145 a share for all the shares that it did not already own in the company, sending the takeover target’s stock up 31.8%, or A$0.03 a  share, to A$0.14 apiece.