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Shareholders vote on takeover bid

Shareholders in Dutch contractor and Nuttall parent company HBG are due to vote on plans to head off a hostile takeover bid from Boskalis tomorrow. HBG wants to set up a special company which will be able to veto takeover bids.

Boskalis made its bid for HBG in March (NCE 2 March). It is understood to be in talks with HBG management over a possible merger. Boskalis is smaller than HBG but claims to operate on higher margins.

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