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
15 April 2021
Shares in Australian-New Zealand pure play renewable energy firm Tilt Renewables have gone into a trading halt, as the company currently the subject of an AGL Energy led takeover bid flags the potential of a more attractive offer.
Last month, Tilt announced that it had agreed to an offer from a consortium led by New Zealand utility Mercury NZ, and the AGL Energybacked Powering Australian Renewables fund (Powar).
The $2.75 billion takeover offer would effectively split the Tilt business between its New Zealand and Australian assets, with Powar aiming to take control of the company’s Australian portfolio, which includes the Snowtown North and Dundonnell wind farms and a big project pipeline.
Market close: Covid-battered stocks make strong headway
16 Mar, 2021 04:40 AM
4 minutes to read
SkyCity Entertainment rose 16c or 4.78 per cent to $3.51. Photo / 123RF
NZ Herald
By: Graham Skellern
The re-opening stocks – those battered by the Covid pandemic – continued to make strong headway as the more confident New Zealand sharemarket posted its sixth successive day of rises. The S&P/NZX 50 Index gained 96.79 points or 0.77 per cent to 12,689.05, after reaching an intraday low of 12,584.85. There were 83 gainers and 61 decliners with 50.4 million shares worth $200.76 million changing hands.
Matt Goodson, managing director of Salt Funds Management, said it was a day investors were willing to take risks and pay for re-opening stocks. Some of them are having strong runs.
CANBERA (dpa-AFX) - Asian stocks rose on Tuesday as investors continued to buy cyclical shares on optimism about the economic reopening from the coronavirus pandemic. Against a backdrop of rising