May 25, 2018 / 6:03 AM / 2 months ago

Germany's ATON sweetens Murray & Roberts bid, raises stake to 44 pct

JOHANNESBURG, May 25 (Reuters) - German investment house ATON will raise its $400 million bid for South African builder Murray & Roberts by 13 percent, the company said on Friday.

The decision comes after ATON raised its stake in Murray & Roberts to 44 percent at 17 rand per share, triggering a rule under South African capital market regulations to offer all shareholders the same amount.

Before raising the bid, the company already held nearly 40 percent of the stock. (Reporting by Tiisetso Motsoeneng, Editing by Sherry Jacob-Phillips)

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