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Johns Lyng agrees to $1.3b takeover bid from private equity suitor

Johns Lyng agrees to $1.3b takeover bid from private equity suitor

Johns Lyng Group says it has agreed to sell itself to Pacific Equity Partners in a deal that values the building services business at $1.3 billion.
The company had a market capitalisation of $719 million last month. That was before The Australian Financial Review 's Street Talk column revealed it had been approached by a private equity firm which had secured the exclusive right to conduct due diligence on the business, ahead of a formal bid.
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