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Mercury, PowAR up the ante for Tilt to $8.10 a share
17 Apr, 2021 02:24 AM
2 minutes to read
Tilt Renewables Tararua wind farm. Since its largest shareholder announced a strategic review of its investment in December, the company has been readying itself for offers. Photo / SUPPLIED
Tilt Renewables Tararua wind farm. Since its largest shareholder announced a strategic review of its investment in December, the company has been readying itself for offers. Photo / SUPPLIED
Mercury NZ and infrastructure investor Powering Australian Renewables (PowAR) have lifted their offer for Tilt Renewables to $8.10 a share from $7.80 in response to a reported Canadian bid.
Separately, Tilt s majority shareholder Infratil said it supported the offer, which values its stake at $2 billion.
A late bid for Tilt Renewables by CDPQ? Aussie media speculates
16 Apr, 2021 05:05 AM
2 minutes to read
Tilt Renewables has been in an NZX trading halt. Photo / Supplied
NZ Herald
Takeover target Tilt Renewables has remained in a trading halt pending the release of what could be a superior offer for the company, with Australian media speculating that Canadian pension fund CDPQ may have lodged a late bid.
Tilt went into a trading halt this week pending the release of an announcement about what could be superior scheme of arrangement for shareholders as compared to the original scheme outlined March 15.
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Winners now 20c apiece behind Canadian pension fund s reported $8 a share tilt.
A Canadian pension fund recently beaten to the punch for Tilt Renewables, is the trans-Tasman renewables developer’s mystery late bidder with a superior NZ$8 a share offer, according to Australian media.
The
Australian Financial Review reported on Friday that CDPQ has launched a late and higher tilt at Tilt – one that puts the pressure on auction winners, Mercury and Powering Australian Renewables (PowAR), to match it.
The
AFR understood CDPQ’s bid, which values Tilt at a shade over $3 billion, was binding and fully funded. It had performed diligence on Tilt as part of a two-stage auction held earlier