Leighton Holdings (OTC:LGTHY) (LEI.AX) is a global contractor in the infrastructure, mining, construction and energy sectors based in Australia.
Leighton Holdings Organization Structure
(click to enlarge)
While Leighton has not been particularly well-managed over the last several years, it recently picked up an important catalyst having implications for shareholders considering an investment.
In particular, Hochtief, Leighton's parent, recently disclosed a bid to raise its stake from 59% to 74% for up to $22.50/share. Hochtief, in turn, is owned by Spanish contractor, Actividades de Construcciones (OTCPK:ACSAF) ("ACS"), after being bought in a hostile takeover in 2010. If history repeats itself, my guess is Hochtief and ACS likely seek to take full ownership of Leighton. To...
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