{"id":1788,"date":"2016-10-05T20:44:06","date_gmt":"2016-10-05T20:44:06","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=1788"},"modified":"2016-10-06T20:42:47","modified_gmt":"2016-10-06T20:42:47","slug":"bradken-board-backs-hitachi-takeover-bid","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/10\/05\/bradken-board-backs-hitachi-takeover-bid\/","title":{"rendered":"Bradken board backs Hitachi takeover bid"},"content":{"rendered":"

Bradken\u2019s board has supported a takeover bid worth $689 million from Japan\u2019s Hitachi Construction Machinery.<\/p>\n

The Australian Financial Review<\/em> and others report<\/a>\u00a0that the bid is a 34 per cent premium on Bradken\u2019s closing price of $2.43 a share. It follows interest from several private equity firms in the mining engineering company, whose shares have traded as low as 38 cents this\u00a0year.<\/p>\n

The company said it would retain Bradken\u2019s management teams and headquarters at Newcastle.<\/p>\n

The board\u2019s support depends on no better bid being made and is subject to an independent expert\u2019s report, The Sydney Morning Herald<\/em> reports<\/a>.<\/p>\n

Hitachi makes, sells and services mining machinery, and has a market capitalisation of roughly $5.5 billion\u00a0and over 20,000\u00a0employees<\/a>.<\/p>\n

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Hitachi Construction Machinery buying Bradken<\/h1>\n<\/div>\n
Posted by John<\/a><\/span> On October 05, 2016<\/span> 0 Comment<\/a><\/span><\/div>\n
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\"sag-ag_mill_liners\"<\/div>\n<\/div>\n
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Bradken has agreed to a takeover bid by Japan\u2019s Hitachi Construction Machinery (HCM) in a deal analysts say may indicate the worst of the mining downturn has passed. Yuichi Tsujimoto, HCM President said his company believes Bradken\u2019s \u201cbusinesses are complementary with our mining equipment<\/a> services business. Both companies leveraging each other\u2019s global network will enable us to strengthen our combined businesses and enhance our earnings.\u201d<\/p>\n

\u201cBradken\u2019s staff have worked very hard to reposition the business for success following the downturn in mining,\u201d said Paul Zuckermann, Bradken CEO.<\/p>\n

Bradken describes itself as \u201ca leading global manufacturer of differentiated consumable and capital products to international markets, supplying an extensive range of cast and fabricated products through four market focused divisions and an independently branded business.\u201d<\/p>\n

These five are Mining & Transport, Fixed Plant, Mineral Processing. Engineered Products<\/a> and the independently branded, Cast Metal Services. Bradken is well-known for its wear parts in mineral processing and ground engaging tools<\/span>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bradken\u2019s board has supported a takeover bid worth $689 million from Japan\u2019s Hitachi Construction Machinery. The Australian Financial Review and others report\u00a0that the bid is a 34 per cent premium on Bradken\u2019s closing price of $2.43 a share. It follows interest from several private equity firms in the mining engineering company, whose shares have traded … Continue reading “Bradken board backs Hitachi takeover bid”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-1788","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-sQ","jetpack-related-posts":[{"id":8831,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/14\/the-zenith-of-ground-engaging-tools\/","url_meta":{"origin":1788,"position":0},"title":"The Zenith of ground engaging tools","author":"yinghui","date":"August 14, 2024","format":false,"excerpt":"Alexandra Eastwood Zenith plate lips currently come in standard, long and heavy-duty options to suit all application requirements. 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