Since I posted this I have been scouting around a bit looking at...

Since I posted this I have been scouting around a bit looking at some M&A activity in the last year or so.
I am sharing the links in case anyone is interested:

In regards MND ;
There actually was a purchase, soon after the above stories, on July 14, 2017 - but not $300M https://www.miningmonthly.com/maint...nadelphous-proves-maintenance-the-way-forward
https://www.hunterheadline.com.au/hh/industry-news/rig-installations-acquired-monadelphous/
From the H2 17 financial report it seems the cost was around $14.5M
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5Ay7zhSZrfl9ke92GA==

Together with Lycopodiun, Monadelphous also set up Mondium last year : http://www.mondium.com.au/about/
The annual report noted this EPC company had delivered a contract for Talison Lithium - electrics, earthworks and more and had won another for Galaxy Lithium.

The annual report this year also notes Monadelphous is cashed up :
‘Monadelphous ended the year with a healthy cash balance of $208.8 million and a cash flow from operations of $51.6 million. Increased activity levels and working capital requirements resulted in a cash flow conversion rate for the period of 69.4 per cent. The Company’s strong balance sheet provides substantial capacity to invest in new business opportunities.”
https://www.monadelphous.com.au/media/5640627/2018-full-year-statutory-accounts.pdf


Here is a link to a useful thread on MND forum at the time of the press stories in the post above .
-Thoughts on targets, rolling boards and more including useful posts on the merits (or otherwise) of takeovers too....
https://hotcopper.com.au/threads/ann-response-to-media-speculation.3515664/#.W7h-o4o_Xmo

INTERJECTION:
Sabine (outraged) :
.....“Mover of dirt” indeed Pioupiou “.. you were there...where’s your loyalty ?
And mr ampersand too .. interesting.)

Sabine (acidly) : This creature is a mover of dirt . It is a groundhog “They can dig fast enough to get away from dogs and humans with shovels digging after them. Like, they run through earth.” https://www.quora.com/Which-animals-other-than-humans-move-the-most-earth
NRW Holdings is not a “groundhog” ! It is an elite, strategically sane, eagle-eyed raptor in the event it is considering another acquisition or merger and if it is not then that is what is best for the company too!


To continue :
The referenced MND thread suggests York Civil as a potential takeover target .....
I had been wondering if MND was one of the companies York had been speaking to before it went into administration..
It’s a tough world out there.




There are more rumours of sector M&A over at Austin Engineering
(which shares Executive Chairman, Jim Walker with MacMahon and some others (including Australian Potash since August 15) ..a random link : https://thewest.com.au/business/pub...hief-to-chair-australian-potash-ng-b88929905z
“Mr Walker is currently the Non-Executive Chairman of Macmahon, Austin Engineering, Wesley College and the State Training Board.”
Someone there heard gossip Macmahon is on the M&A trail too.
At Macmahon there are technical signs that energy is building ....ask Saragian

For the record other possible takeover targets suggested on that MND thread include
BAP and CATCON.


Another international player, DRA Group, announced it is acquiring G&S Engineering from Calibre Group in July .
More indication of the hunger to move in on Australia by large international companies.
https://www.insideconstruction.com.au/site/news/1053852/dra-acquires-engineering-services-firm
“This acquisition continues DRA's rapid expansion in the Asia Pacific region and the company said the move will provide a significantly expanded footprint in Australia, specifically on the East Coast where G&S Engineering has an extensive presence. It will also significantly extend DRA's procurement, project management, construction, commissioning and operations and maintenance capabilities in Australia, opening up new long-term opportunities, and providing increased scale to DRA's Australian operations.

Greg McRostie, managing director of DRA for Asia-Pacific, commented: "The acquisition of G&S Engineering is very much in line with our growth strategy. We have been working closely with them for over a year now and I am delighted they will be joining the DRA group.

"Australia is a key market for DRA and this acquisition gives us a well-established maintenance and optimisation platform as well as a greater presence in the region, while broadening the scope of services we can offer our clients. The management team at G&S has a strong track record and relationships with a number of Australian resources companies, and we look forward to working with them and the broader G&S team as we grow our business.”

Calibre Group background info : it’s background is that it was a public company that returned to private.
https://www.copyright link/street-t...tlight-after-brief-sabbatical-20171030-gzbfo1
Here’s another link to the G&S sale http://www.calibregroup.com/engage/article/2018/07/04/calibre-agrees-to-sell-g-s-engineering-to-dra
NB the notice regarding sale of Diona and Professional Services
http://www.diona.com.au/
Finally their website (which says it all really ) it sounds like a direct competitor to NRW
http://www.calibregroup.com/engage/article/2018/08/10/calibre-board-concludes-strategic-sale-process


Finally another recent deal ,, this time a merger : from August 22.
https://thewest.com.au/business/eng...rg-shareholders-back-gcs-merger-ng-b88936282z
https://srgglobal.com.au/

This on top of these the Ausdrill/Barminco acquisition and RCR Holdings likely to be in the market and, as said, rumoured to be potentially claimed by Downer.

I can’t remember any more but the list does show there is a lot of jockeying for position going on right now.

Cheers