Sembawang Australia Pty Ltd made an offer to acquire construction businesses from MacMahon Holdings Ltd. (ASX:MAH) for AUD 38 million on January 3, 2013. Sembawang Australia made a two-part offer, wherein in first part, it made an offer to acquire the construction businesses as a going concern and in second part, it made a counter proposal to the asset purchase agreement made by Leighton Holdings Limited, on identical terms, for an additional consideration of AUD 5 million. The offer is subject to satisfactory due diligence and approval of Board of Sembawang Engineers and Constructors, third party approvals and definitive agreement. As on January 4, 2013, MacMahon Holdings cannot provide Sembawang with due diligence access due to the exclusivity arrangements of the agreement entered with Leighton Holdings. On January 11, 2013, Macmahon's Board received a revised proposal from Sembawang wherein Sembawang withdraw the offer to counter Leighton's AUD 20 million bid by AUD 5 million for most of the construction business. Sembawang's only offer is an indicative price of AUD 38 million. The deadline to respond to the revised offer was January 12, 2013, which the Board immediately rejected. Antonella Pacitti, Lucas Wilk and Gaelan Cooney, Stuart Napthali and Jessica Van Dongen of Ashurst Australia acted as legal advisors for MacMahon Holdings Ltd.

Sembawang Australia Pty Ltd cancelled the offer to acquire construction businesses from MacMahon Holdings Ltd. (ASX:MAH) on January 12, 2013. The deal was cancelled due to Macmahon Holdings' Board not agreeing to break exclusivity arrangements with its biggest shareholder, Leighton Holdings Limited and to accept Sembawang Engineers' proposed offer. The Board disclosed that Sembawang's proposal was unsolicited, non-binding, incomplete and highly conditional.