|
|
Article: Australia : Transurban investors push for better deal.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: datta03
TRANSURBAN shareholders are falling behind the board's decision to reject a $6.7 billion takeover offer from two of Canada's biggest pension funds, raising pressure on the suitors to increase their bid.
It is understood that Transurban has begun canvassing opinion among its key shareholders, most of whom have said the Canadian offer of $5.25 a share undervalues the toll roads business.
The Canada Pension Plan and Investment Board and the Ontario Teachers Pension Plan, which together hold 28 per cent of Transurban's shares, last week revealed their bid after secret negotiations failed.
Transurban's board rejected the ...