Watpac hits back at media report

Company News

by Anna Napoli

Construction and mining business, Watpac (ASX:WTP) has hit back at media reports about the company’s takeover offer from its major shareholder BESIX Group.

The AFR last week reported that Watpac CEO Martin Monro said the Watpac board had received word that the BESIX offer was final.

But Watpac says no such statement was made by its CEO, and that the reported statement is incorrect.

The proposed takeover will see BESIX buy up 50 per cent of ordinary shares at a price of 92 cent per share.

Shares in Watpac (ASX:WTP) are trading down 1.27 per cent to 78 cents.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.