Barloworld takeover clears key hurdle with regulator approval

Barloworld shareholders received positive news as the South African Competition Commission recommended that the Competition Tribunal approve the proposed acquisition of the company by Newco. The recommendation is subject to certain public interest conditions, primarily relating to Newco's commitment to implementing a 13.5% broad-based black economic empowerment transaction in Barloworld after its delisting from the JSE and A2X. The Acceptance Date Deadline has been extended to 30 June 2025. The parties will continue to work toward fulfilling the remaining conditions precedent. The Per Share Scheme Consideration is ZAR120 per Barloworld Ordinary Share.