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Sedgman urges no action on Cimic offer

The directors of ASX-listed service provider Sedgman on Wednesday told shareholders not to take any action regarding an unconditional off-market takeover offer from fellow listed Cimic Group.

Cimic, which already owns a 36.99% interest in Sedgman, on Wednesday announced its intention to launch an unconditional offer to acquire the outstanding shares in Sedgman.