CIMIC Group Limited
(ASX:CIM) has announced its intention to make a 75 cent cash per-share off-market takeover offer for Devine.
CIMIC, owns 50.63 per cent of Devine Limited, and will aim to acquire the remaining 49.37 per cent of the company.
The offer of 75 cents per share represents a 31.3 per cent premium to the price of shares on October 22.
CIMIC says it considers the offer attractive to Devine shareholders.
CIMIC reported a net profit of $258.2 million at 30 June 2015.
