Macmahon has told shareholders not to respond to CIMIC's takeover bid until the mining services company has issued a full analysis of an offer it is likely to deem inadequate.
Macmahon says its preliminary view remains that the 14.5 cents per share offer is inadequate and that shareholders should take no action until they get the company's target statement, which will follow the bidder's statement they have yet to receive.
Construction giant CIMIC is set to send shareholders its bidder's statement between February 7 and 21, with a response from Macmahon - whose shares were valued at 14.75 cents prior to the open of trade on Friday - to follow no more than 15 days later.
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