CIMIC has stepped up its acquisition spree by making a $243 million full takeover play for mining services group Sedgman.

Sedgman has asked shareholders not to take any action for now while its board considers the offer made by its largest shareholder. Sedgman shares surged by more than a third, closing 28 cents higher at $1.07. CIMIC made an unconditional offer to buy the 63.01 per cent of Sedgman shares…