South African Greenbay makes $120 million offer for European assetsStaff Writer | October 16, 2017
South African construction firm Group Five said that Greenbay Properties had made an unsolicited offer to acquire its European assets for 1.6 billion rand ($120 million).
Acquisition Group Five has constituted an independent board
Group Five's share price leapt 37 percent to 12.61 rand on the news.
"Group Five has constituted an independent board to consider the terms and conditions, as well as the merits, of the offer," the company said in a statement. ■