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The proposed takeover of Leighton Holdings Limited (ASX:LEI) has received the green light from Australia’s Foreign Investment Review Board.
The approval is for Leighton’s major shareholder, Hochtief’s which made a $1.15 billion takeover bid of the construction company last month.
Spanish owned, Hochtief, has offered $22.50 per Leighton share to acquire the part of the company it does not already own.
Leighton Holdings reported a net profit of $469 million in the full 2013 calendar year.
