Elphinstone to acquire Engenco for AUD95m.

Elphinstone, a manufacturing company that specializes in producing underground and surface mining solutions and support vehicles, agreed to acquire Engenco, which provides a range of engineering services to the rail, mining, and other industrial sectors, for AUD95m. Engenco will issue a Target’s Statement, which will incorporate the independent directors’ recommendation regarding the offer. Crucially, it will also include an Independent Expert’s Report assessing the fairness and reasonableness of the AUD0.305 offer for Engenco shareholders not affiliated with Elphinstone. Shareholders are urged to thoroughly examine the Target’s Statement before making any decisions about the offer.