The interesting questions are:Did the 15% buyout occur first,...

The interesting questions are:

Did the 15% buyout occur first, then the MOU struck or was it the other way around? (MOU could be just a last ditch face saving move as they have never worked together to my knowledge, watpac is doing fine winning work on its lonesome)

What price per share was KS bought out for?

Besix has been talking about an australian acquisition for a number a years... This could well be the seeds of a future takeover...

Lots of questions around this strategic move by Besix left unanswered... watpac has much more capability and experience in Australia, I can't see them needing a partner such as Besix.

Maybe this would put pressure on the others majors like Leighton to accumulate a blocking stake preventing a back door entrance by a larger international major such as Bemix