Brambles Mulls Options Amid Takeover Talks With CVC Capital -- Update
May 15 2022 - 7:17PM
Dow Jones News
By Stuart Condie
SYDNEY--Brambles Ltd. said preliminary talks with CVC Capital
Partners over a potential proposal for the pallet supplier.
The Australia-listed firm on Monday said that talks regarding an
unsolicited proposal to acquire the whole of the company were
incomplete and not guaranteed to result in a formal proposal.
Brambles was responding to reports on Sunday by Australian
newspapers.
Brambles did not give any detail with regard to the potential
value of any proposal. The Australian Financial Review and The
Australian newspapers suggested Luxembourg-based CVC could offer
about 20 billion Australian dollars (US$13.88 billion), which
compares with Brambles's A$14.9 billion market capitalization ahead
of Monday's open.
Brambles said that its board was focused on its current
transformation plan and considering other strategic options to
maximize shareholder value.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
May 15, 2022 19:02 ET (23:02 GMT)
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