Worley (ASX:WOR) responds to creeping acquisitions by Dar Group

Company News

by Rachael Jones

Engineering company Worley (ASX:WOR) has notified the ASX of its operations to the Foreign Investment Review Board, in the context of possible creeping acquisitions by its largest shareholder, Dar Group.

Worley also confirms that it has engaged with Dar regarding such further share acquisitions and requests by Dar for Worley Board representation and for a comprehensive business cooperation agreement with Worley.

The Worley Board believes that it is not in shareholders’ interests for Dar to further increase its shareholding in Worley by creeping acquisitions or for Worley to enter into a business cooperation agreement with Dar.

Shares in Worley (ASX:WOR) trading 2.8 per cent higher at $13.47.

 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.