Posted in | News

Brickworks Attempt to Take Over Bristile

Austral Brick, a wholly owned subsidiary of Brickworks Ltd have submitted an offer to Bristile Ltd to acquire their shares and hence merge the two companies

Austral’s offer is for AUD$3.15 per share, valuing Bristile at $473 million.

Should the merger go ahead, it will create one of the country’s largest brick manufacturers and create a truly national supplier.

Brickworks is already the largest shareholder in Bristile, with an ownership of 22.7%. Their offer is conditional on their ability to acquire a further 27.4% to give them a controlling interest of 50.1%. Other conditions also apply.

The offer period for Bristile shareholders to accept the Austral offer has just been extended until 7pm on May 16th.

In the mean time, Bristile directors have advised their shareholders to ignore Austral’s offer declaring it "miserably low", having had independent advice valuing shares between AUD$3.45 and AUD$3.82.


Brickworks and The Australian Stock Exchange

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.