Tilt’s independents belatedly urge holding out against Infratil

Wed, 28 Nov 2018

By Jenny Ruth Nov. 29 (BusinessDesk) - Tilt Renewables’ independent directors say it looks like Infratil’s $2.30 per share takeover bid will fail to get to 90 percent acceptances and that remaining shareholders should hold out for a better offer. “Given the acceptances to date, it is unlikely that the joint venture will reach the 90 percent compulsory threshold with its current offer,” said Fiona Oliver, the chair of the independent committee of directors. Although Infratil and Mercury are in a JV which is making the now unconditional...

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