Metricon chief executive Brad Duggan and chief financial officer Jon Robson at a housing construction site.
Australia’s biggest home builder is on the cusp of a $115m (AUD) takeover by a Japanese conglomerate.
Sumitomo Forestry on Monday put in a notice to the Tokyo Stock Exchange outlining their plans to acquire 51 per cent of Metricon, potentially before the end of 2024.
The Aussie housing construction giant has been the nation’s most prolific builder for the past nine years, and if the deal proceeds it would mean about 12 per cent of all Australian homes are built by foreign-owned companies, including other giants such as Simonds and Henley.
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Industry sources indicated that Metricon had been quietly open to a sale for…
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