Mar 13, 2014

Leighton Holdings’ Spanish inquisition into construction competition

Leighton Holdings is about to be taken over by Spanish company ACS, the fourth-largest construction company in the world. But has anyone looked into the nitty-gritty of what its consolidation will mean for competition?

Paddy Manning

Crikey business editor

The slow Spanish takeover of Australia’s biggest construction company, Leighton Holdings, is all but complete with this morning’s termination of CEO Hamish Tyrwhitt and CFO Peter Gregg, and the declaration of a sweetened bid that is now unconditional.

All that remains, apparently, is for eager minority shareholders to take their $22.50 and for the Foreign Investment Review Board to clear the bid — probably a formality given control has clearly already passed to the ultimate parent company, Spanish construction giant ACS, the fourth-biggest construction company in the world.

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2 thoughts on “Leighton Holdings’ Spanish inquisition into construction competition

  1. klewso

    This “The Crucible” (by The Abbott-Brandis Amateur Theatrix Players) will look into this won’t it?

  2. Exactly!

    Quick, let’s have a royal commission into this!

    Exercising market power to inflate prices and profits is exactly what the CFMEU does to increase wages and conditions.

    And that can’t be right!

    Lead on Liberal!

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