Bradken has made moves to acquire mining equipment manufacturer Austin Engineering.
It has made a “non-binding and indicative proposal to acquire all of the ordinary shares in Austin that it does not currently own,” the company said in a statement.
Bradken currently holds 21.52% of Austin.
It said the initial view of the Austin board is that it is willing to engage in discussions over the acquisition proposal.
Bradken has already appointed Merril Lynch and King & Wood Mallesons as its financial and legal advisors respectively to assist with the proposal.
Austin has recently expanded its manufacturing capabilities in Australia.
