Stocks to Watch Leighton Holdings (LEI)

Leighton Holdings LEI ASXLeighton Holdings (LEI) has evolved significantly from the construction company of its origins over 50 years ago, and is now the world’s largest contract miner.

LEI owns seven diverse and independent companies: Thiess, Leighton Contractors, John Holland, Habtoor Leighton, Leighton Asia, Leighton International and Leighton Properties.

The group operates in more than 20 countries from headquarters in Australia, Hong Kong, Malaysia and Dubai.

On 29 November, LEI was given an undertaking by ACS – the potential acquirer of LEI’s parent, Hochtief – that it will enshrine existing governance arrangements between LEI and Hochtief in the event of any takeover.

Among these are a promise by ACS not to increase its shareholding in LEI beyond 55% and maintaining LEI’s existing structure.

LEI’s involvement in the potential acquisition of its parent makes it one of the stocks to watch in coming months.

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