(MENAFN- ProactiveInvestors - Australia) Macmahon Holdings (ASX: MAH) continues to be pursued by India's Sembawang Engineers and Constructors with another offer being made for its construction assets.
Despite recent public statements by Sembawang that it would not be making any further offers for Macmahon's construction business, Macmahon has confirmed it has received a further letter from Sembawang stating that it "remains interested in acquiring Macmahon's construction businesses as going concerns".
Sembawang, a subsidiary of Punj Lloyd, said in its letter to Macmahon that the indicative, non-binding purchase price for the construction businesses was anticipated to be A$38 million â€" as previously advised.
The letter also provided some aspects of the clarifications that Macmahon sought previously in respect of earlier proposals.
Macmahon has made it clear its directors have again unanimously rejected the proposal.
The company reiterated that the matter of the Sembawang proposals is closed.
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