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Seven Group Makes Bid for Remaining Shares of Australia’s National Hire Group

Seven Groups Holdings has proposed to buy out the remaining shares of National Hire Group, owner of Coates Equipment, Australia’s largest rental company, according to Australian news reports. The Seven Group, which already owns a 66.2-percent stake in National Hire, said it made the offer because of the low liquidity of the shares on the Australian Stock Exchange.

National Hire said an independent committee consisting of directors unaffiliated with Seven has been formed to evaluate the takeover offer.

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