Leighton Holdings Ltd. shares fell the most in more than two years after the Age newspaper said former executives knew of alleged corruption at the company. Australia’s biggest builder said the revelations weren’t new.
Leighton Holdings Ltd. directors shortlisted two internal candidates to succeed Chief Executive Officer Wal King, the Australian newspaper reported, citing unidentified people familiar with the matter. Frontrunners to make the list were Chief Operating Officer David Stewart and David Saxelby, managing director of the construction company’s Thiess unit, according to the report.
Hochtief AG , Germany’s largest publicly traded builder, said pretax profit may fall 50 percent this year after its Australian unit predicted a loss and said it would sell stock. Hochtief shares fell the most in two years.
Rupert Murdoch’s News Corp . says the 7.8 billion-pound ($11.6 billion) bid for British Sky Broadcasting Plc is “full and fair.” Investors and analysts say even a 14 percent increase would be the “bare minimum.”