MDM Engineering Group to merge with Sedgman

Under the terms of the Merger, MDM shareholders will be offered £1.81 cash for each MDM share they hold. Certain key shareholders will be offered a combination of 70% cash consideration and 30% of their consideration in Sedgman shares. MDM Board directors recommended to the MDM shareholders that, in the absence of a superior proposal, they vote in favour of the merger. According to Mineweb, MDM shareholders have subsequently agreed to vote in favour of the merger.

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