Skip to content

CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Boral share price: where next as Seven ups takeover bid?

The Boral share price surged on Friday after Seven Group Holdings upped their takeover bid for the company.

Boral share price: where next as Seven ups takeover bid? Source: Bloomberg

Recent developments at a glance

It’s been a dramatic few weeks for building materials company Boral (ASX: BLD).

On Monday the company announced it had entered into a binding agreement to sell its North American Building Products business. The sale price was set at USD$2.15 billion or AUD$2.9 billion.

Then on Tuesday, Boral updated the market on Seven Group Holding's off market takeover bid for the company, noting that Seven had dropped all conditions relating to their acquisition offer.

That offer was for $6.50 per share, a deal, which according to Boral’s management: undervalues the company.

As such the Board implored shareholders to reject Seven’s offer.

Then on Friday, another twist in the takeover bid was revealed, with Seven upping their bid as well as extending the timeline for Boral shareholders to potentially accept their offer. We look at those updates below.

Extended time-frame

First, Seven said it would extend the time-frame for shareholders to potentially accept their offer –saying that the Offer Period would now end at 7:00 pm, on 2 July.

The offer was previously set to expire at 7:00 pm, on 30 June.

As of Friday, the Seven Group is reported to hold a 24.5% stake in Boral.

IG is a world-leading online trading and investments provider for thousands of financial markets. With CFDs (read about CFDs here), you can buy long or sell short on Boral and other e-commerce stocks depending on whether you think prices will rise or fall. Start today by opening an IG account.

New offer

Looking at the new offer price(s), Seven Group Holdings raised its takeover cash offer price to $7.30 per share.

Specifically, that increase would be triggered if Seven 'received acceptances under the Offer sufficient to increase its aggregate interest in Boral Shares by approximately 5% to 29.5% or more' before 2 July.

In addition to that, a second conditional increase to $7.40 per share was also flagged, if Seven 'receives acceptances under the Offer sufficient to increase its aggregate interest in Boral Shares by approximately 10% to 34.5% or more' before 7 July.

Boral share price

The stock started the day in a so-so fashion, with BLD opening at $6.91 per share before dropping to an intraday low of $6.71 per share a little before 11:30 AM.

Unsurprisingly, following the announcement regarding Seven’s updated offer, the stock was bid higher, jumping close to 10% by the afternoon session, to finish out the day just above the increased offer price, at $7.34 per share.

This caps of a dramatic turnaround for the company, with the building materials company up an impressive 47% since January. In that time – the ASX 200 benchmark by comparison – has risen 9.33%.


This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Friday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

<h3>How much does trading cost?</h3>
<h3>Find out about IG</h3>
<h3>Plan your trading</h3>

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.