BRIEF-Leighton says HOCHTIEF increases its offer to $22.50 per share for Leighton's 3 out of 8 shares

March 13 (Reuters) - Leighton Holdings Ltd LEI.AX :

* Improved Hochtief offer board and management changes LEI.AX

* HOCHTIEF increased its offer to Leighton shareholders to $22.50 per share for

three out of eight shares

* Says Leighton and HOCHTIEF have today entered into a bid implementation

agreement

* Says offer now unconditional other than FIRB approval

* Employment of CEO Hamish Tyrwhitt and deputy CEO and CFO Peter Gregg has been

terminated

* Marcelino Fernandez Verdes, the current Chief Executive Officer of HOCHTIEF

AG has been appointed as chief executive officer of Leighton

* Appointed two further directors nominated by HOCHTIEF, Pedro Lopez Jimenez

and Jose Luis Del Valle Perez

* Independent directors intend to recommend that minority shareholders accept

the improved offer in the absence of a superior proposal

* Source : Href="Link">http://r.reuters.com/rev57v ; Href="Link">http://r.reuters.com/sev57v

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