CIMIC in hostile bid for Sedgman

CIMIC Group has made a hostile takeover play for Sedgman after ambushing it at its annual general meeting last year.

CIMIC in hostile bid for Sedgman CIMIC in hostile bid for Sedgman CIMIC in hostile bid for Sedgman CIMIC in hostile bid for Sedgman CIMIC in hostile bid for Sedgman

Sedgman previously completed engineer, procure and construct work on La Mancha's gold processing plant.

The contracting giant already owns 37% of the Queensland-based company and has offered $1.07 a share for the rest of the firm.

The deal represents a 35% premium to the last closing price.