Infratil rejects AustralianSuper’s $5b takeover bid

Infratil rejects AustralianSuper’s $5b takeover bid
Dan Brunskill
Infratil has rejected the $5.37 billion takeover bid from AustralianSuper saying the offer was unsolicited and undervalues the company.The board said it was first approached by AustralianSuper in October with an offer to acquire the infrastructure investment firm through a scheme of arrangement for $4.69 per share in cash, plus the distribution of Trustpower shares to Infratil shareholders. In late November, the cash component of that initial offer was upgraded to $5.79, bringing the total offer value to $7.43 per Infratil share. The propo...

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