BRS wants higher offer, page-20

From SMH.....

Broadspectrum's board is expected to meet this week to make a final decision on whether to recommend a $715 million hostile takeover bid from Spanish infrastructure group Ferrovial.

The contractor, which was formerly known as Transfield Services, must issue its target's statement, which will contain the board's recommendation on the $1.35 per share cash offer, by January 28.

The statement will also contain a "fair value" estimate of Broadspectrum by an independent expert.

/////////////

Looks like a deal needs to be done by Ferrovial to shore up SP. I assume there will be a decent compromise soon to wrap things up or bid lifted to gain some decent support to get at least 20 percent.