Hitachi consumes Bradken
On Monday, mining services company Bradken Limited (ASX: BKN) announced it had entered into an implementation agreement with Japanese construction company Hitachi Construction Machinery Company Limited. Hitachi has agreed to make an all cash off-market takeover for Bradken for $3.25 per share. Bradken is likely to benefit from its cost reduction program and the increase in capital expenditure by mining companies globally. Shares in Bradken closed up 33.1% for the week. We own Bradken as a market-driven investment in WAM Capital and WAM Active.
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Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...