Thiess has waived all remaining conditions and the Thiess Offer is now unconditional, providing MACA shareholders with certainty that they will receive the Offer consideration in a timely manner


Thiess’ Offer for MACA declared unconditional. (Credit: aymane jdidi from Pixabay)

MACA Limited (MLD:ASX) (MACA) and Thiess Group Investments Pty Ltd (ACN 659 649 055) (Thiess) provide the following update in relation to Thiess’ off-market takeover offer (Offer or Thiess Offer) to acquire all of the ordinary shares of MACA for $1.075 cash per share (Offer Price).

With the Thiess Offer now unconditional, MACA has agreed, whilst the Bid Implementation Deed is not terminated, to (except to the extent of matters required in order for the MACA directors to discharge their fiduciary or statutory duties) not do, or omit to do, anything which would breach the Offer Conditions of no Prescribed Occurrences and no issue of convertible securities, derivatives or other rights by MACA if it occurred prior to the waiver of those Offer Conditions.

Michael Wright, Executive Chair and Chief Executive Officer of Thiess, provided the following comment in relation to Thiess’ updates to its Offer: “With the Offer now unconditional, we encourage MACA shareholders to accept the Offer quickly and without delay to ensure they receive their cash consideration in a timely manner. The Offer represents an attractive premium and provides MACA shareholders the opportunity to receive their consideration in cash in a timely manner. We therefore encourage shareholders to accept before the close of the Offer, which is currently scheduled for 7 October 2022 (unless extended). We are happy to declare the Offer unconditional and welcome MACA into the Thiess Group. We truly look forward to working with the MACA team, clients, communities and stakeholders.”

Source: Company Press Release