Clough Group enters voluntary administration as WeBuild $350 million takeover ... trends now One of Australia’s oldest building companies suddenly collapses with 1,250 jobs up in the air as a $350million deal falls over Merger of Perth-based Clough Group construction company falls through Italian company WeBuild were originally set to acquire Clough in a $350m deal On Monday WeBuild said following discussions they had pulled out of the deal By Ben Talintyre For Daily Mail Australia Published: 00:24 GMT, 6 December 2022 | Updated: 00:28 GMT, 6 December 2022 Viewcomments One of Australia's oldest building companies has entered voluntary administration leaving 1,250 employees in the lurch. On Monday, Perth-based Clough Group informed administrators that a $350 million takeover deal for their company had fallen through. The Western Australian building and engineering company was set to be acquired by Italian construction group WeBuild. Snowy Hydro 2.0 was one of Perth-based Clough’s big projects (pictured: a power mast as part of the Snowy Hydro Scheme in Talbingo) The conditional deal was agreed upon on November 8 but less than a month later has fallen apart with the Italian company stating there was 'no reasonable prospect of that acquisition proceeding'. More to come. Share or comment on this article: All rights reserved for this news site (dailymail) and under his responsibility