Building giant Boral is considering an $8 billion buyout bid. 

The local industrial conglomerate Seven Group Holdings is behind the bid, which would increase its existing 23.2 per cent stake in the group.

Seven Group owns a controlling share of equipment supply firm Coates Hire and WesTrac, which supplies CAT trucks to the mining industry. 

Seven is offering $6.50 cash per Boral share, matching Boral’s closing price on Monday.

Boral has benefited recently from Australia’s booming housing market, which has largely avoided the COVID-19 recession.