Infratil, Mercury partner for $208M Tilt takeover

Tue, 14 Aug 2018

By Gavin Evans Aug. 15 (BusinessDesk) - Mercury NZ has partnered with Infratil in a $208.5 million offer for the shares in Tilt Renewables they don’t already own. The pair have formed an unincorporated joint venture and plan to offer $2.30 each for shares in the Melbourne-based renewable generation developer. That is 8 percent more than their closing price on the NZX yesterday and 24 percent more than in early May when Mercury acquired an almost 20 percent stake in the company. Mercury chief executive Fraser Whineray said wind and sola...

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