Spare parts after the Australian Spirit Patts and Brick Works

Australian Investment Company Shares Washington H. Soul Pattinson also considered the middle bricks after announcing Spirit Pattson and his branch brickwork Merging $ 14 billion ($ 9 billion).

SOUR PATTS Shares 13.78% high, Australia’s largest brick manufacturer, jumped 22.32% local time.

As part of the transaction will be a new company listed in Sydney Get all outstanding stocks from soul patts and brickwork. The consolidated organization is $ 9 billion, real estate, private capital and loans on credit, $ 13.1 billion.

“Mental pattas combined with brick works are many strategic and financial meaning,” Soul Patts CEO and Managing Director, Todd Barlow, said in a statement. Added that the contract “facilitates the structure, adds a scale and creates a more profitable company.”

The merger will refuse 56-year-old coating to capture enemy shipping and promoting long-term investment strategies. Soul Patts, 43% of brick work, and Brikmeykaker has a share of 26% in spirit pitts. However, critics claimed to be the value of the shareholder and the corporate transparency.

Shareholders of brickwork are set to receive a value of $ 30.28 per share, which reflects the 10.1% award in connection with the closing price of a share last Friday.

Pitt Capital partners act as Soul Pattinson’s advisor and Citigroup global markets advise Australian brick work.

A couple of merger Failed attempts Overcome between 2012 and 2017 between 2012 and 2017, which has been fired between 2012 and 2017, which has not harmed shareholders, Soul Patts and Brick work between the agreed effort

“The structure of the establishment of the Section between the two companies with similar market caps between the two companies in 1969 (Atlas funds.

“Historically, we have seen both companies trading both companies to their peers as the bars,” Dive.

Although the action is not significant in terms of M & A in Australia, the investors are “openly” and sharing it.