(MENAFN- ProactiveInvestors - Australia) Ausdrill (ASX: ASL) has been granted a trading halt today pending the release of details on a proposed acquisition.
Ausdrill has not yet elaborated any further on the acquisition.
Worth noting Ausdrill just last month signed a non-binding Heads of Agreement with representatives of the sellers of the Best Tractor Parts Group - in relation to a proposal for Ausdrill to acquire the whole of the company.
Best Tractor Parts Group was established more than 25 years ago and its business includes the supply of reconditioned/ refurbished earthmoving parts; rental of heavy earthmoving equipment and specialised mining support vehicles; and sales of earthmoving equipment.
These businesses are also supported by a hydraulics and engineering capability and a global procurement network.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 29th August.
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