{"id":969,"date":"2015-09-02T09:17:47","date_gmt":"2015-09-01T23:17:47","guid":{"rendered":"http:\/\/www.bnmme.com.au\/?p=969"},"modified":"2015-09-02T09:17:47","modified_gmt":"2015-09-01T23:17:47","slug":"bradken-ends-merger-talks","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2015\/09\/02\/bradken-ends-merger-talks\/","title":{"rendered":"Bradken ends merger talks"},"content":{"rendered":"

\"bradken\"<\/a>Mining services group Bradken has announced it will not continue merger discussions with Chilean industrial group Sigdo Koppers.<\/p>\n

The parties had agreed to work together to review the strategic and financial merits of a potential merger during a 60 day exclusivity period which expired on the 29th of August.<\/p>\n

However during this period, Bradken revealed Sigdo Koppers, along with CHAMP Private Equity had not initiated discussions on a possible merger structure or values, and the consortium advised that while it remains committed to the project, it is not in a position to provide a proposal to the company.<\/p>\n

Bradken said the stalled merger talks will allow it to focus all of its resources on completing a restructuring program and growing market share.<\/p>\n

“This has been a source of distraction for management and the board during a volatile period in the external operating environment,” Bradken said in a statement.<\/p>\n

Shares in Bradken have dropped from $6.44 in October 2013 to just $1.165 yesterday.<\/p>\n

In early August the company reported a full year loss of $241.3 million, caused by a major restructure of the company as well as asset write-downs and the broader downturn in the resources sector. <\/p>\n

Bradken said its restructuring program is largely complete, with the company well-placed to benefit from the measures it has put in place. <\/p>\n","protected":false},"excerpt":{"rendered":"

Mining services group Bradken has announced it will not continue merger discussions with Chilean industrial group Sigdo Koppers. The parties had agreed to work together to review the strategic and financial merits of a potential merger during a 60 day exclusivity period which expired on the 29th of August. However during this period, Bradken revealed … Continue reading “Bradken ends merger talks”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","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],"tags":[],"class_list":["post-969","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-fD","jetpack-related-posts":[{"id":965,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/06\/26\/bradken-to-explore-merger-with-subsidiary-of-chilean-industrial-group-sigdo-koppers\/","url_meta":{"origin":969,"position":0},"title":"Bradken to explore merger with subsidiary of Chilean industrial group Sigdo Koppers","author":"yinghui","date":"June 26, 2015","format":false,"excerpt":"Bradken chairman Nick Greiner and managing director Brian Hodges, who says the string of overtures from outsiders in the past 13 months had been frustrating to deal with at the same time as the company responded to a sharp downturn in the mining cycle. Photo: Dean Osland Bradken chairman Nick\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"1440932443109","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/09\/1440932443109.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/09\/1440932443109.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2015\/09\/1440932443109.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":1099,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/11\/10\/new-bradken-chairman-says-mining-downturn-to-last-until-2018\/","url_meta":{"origin":969,"position":1},"title":"New Bradken chairman says mining downturn to last until 2018","author":"yinghui","date":"November 10, 2015","format":false,"excerpt":"The new chairman of battling mining services and engineering firm Bradken says the downturn in the mining sector is likely to last until 2018 and the company has done all of its strategic planning based on that bleak scenario. Phil Arnall, who took over as chairman from Nick Greiner on\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":801,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/01\/29\/bradken-buyout-falls-through\/","url_meta":{"origin":969,"position":2},"title":"Bradken buyout falls through","author":"yinghui","date":"January 29, 2015","format":false,"excerpt":"A proposed acquisition of Bradken has collapsed as mining markets remain volatile. Late last year a private equity consortium, consisting of Bain Capital and Pacific Equity Partners, made approaches for a takeover of the construction and engineering company. The move, worth around $872 million, drove Bradken stock up 36.45 per\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1788,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/10\/05\/bradken-board-backs-hitachi-takeover-bid\/","url_meta":{"origin":969,"position":3},"title":"Bradken board backs Hitachi takeover bid","author":"yinghui","date":"October 5, 2016","format":false,"excerpt":"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\u2026","rel":"","context":"In "Mines and Quarry"","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"sag-ag_mill_liners","src":"https:\/\/i0.wp.com\/im-mining.com\/wp-content\/uploads\/2016\/10\/sag-ag_mill_liners.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8854,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/10\/02\/bradken-reaches-ground-engaging-zenith\/","url_meta":{"origin":969,"position":4},"title":"Bradken reaches ground engaging zenith","author":"yinghui","date":"October 2, 2024","format":false,"excerpt":"Kelsie Tibben Zenith plate lips currently come in standard, long and heavy-duty options to suit all application requirements. Image: Bradken Last week Bradken was on the floor at\u00a0MINExpo INTERNATIONAL\u00a0to showcase its latest innovation in ground engaging tools,\u00a0the Zenith Plate Lip System. The Zenith Plate Lip System has been engineered to\u2026","rel":"","context":"In "News"","block_context":{"text":"News","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/yinghuiinternational.com\/wp-content\/uploads\/2024\/10\/bradken-reaches-ground-engaging.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":8831,"url":"https:\/\/yinghuiinternational.com\/index.php\/2024\/08\/14\/the-zenith-of-ground-engaging-tools\/","url_meta":{"origin":969,"position":5},"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. Image: Bradken Bradken has expanded its GET range to include Zenith plate lip GET to further support Australia\u2019s mining sector. Given the often-harsh conditions of the Australian resources industry, it is critical\u2026","rel":"","context":"In "Clients"","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2024\/08\/bradken-1024x728.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2024\/08\/bradken-1024x728.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2024\/08\/bradken-1024x728.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2024\/08\/bradken-1024x728.png?resize=700%2C400&ssl=1 2x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=969"}],"version-history":[{"count":0,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/969\/revisions"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}