Macmahon calls in lawyers over fake emails

5 Oct 2012, 3:57 pm   -   Source: AAP

Lawyers will investigate a series of fake emails purporting to be about a Chinese takeover offer for mining contractor Macmahon Holdings.

Macmahon Holdings has called in lawyers to investigate a series of fake internal emails suggesting the mining contractor had received a takeover approach from a Chinese company.

Macmahon on Friday revealed a media outlet had contacted the company about copies of emails it had been sent and which were supposedly written by board directors and chief executive.

The emails were about a supposed approach from a Chinese joint venture company which was interested in making a takeover offer at a substantial premium.

Macmahon said there was no truth to the emails.

"Macmahon confirms to the market that no such discussions about a possible offer have taken place," the company said in a statement.

"Macmahon has no knowledge of who created the false emails and has instructed its lawyers to raise this matter with the ASX (Australian Securities Exchange) and ASIC (Australian Securities and Investments Commission)."

Macmahon placed its shares in a trading halt Friday morning amid speculation about a takeover move for the company.

The stock was half a cent higher at 29 cents at 1545 AEST.

Macmahon's shares hit a three-year low recently after the company warned the suspension of large scale resources projects would impact its business.

After forecasting profit growth of 20 per cent in August, Macmahon warned in September that its 2012/13 net profit could fall by more than 50 per cent.

Chief executive Nick Bowen also resigned, and has been replaced by its chief operating officer for mining Ross Carroll.

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