June 30 (Reuters) - Australian wind and solar firm Infigen Energy Ltd (IFN) on Tuesday recommended an offer from Iberdrola IBE.MC to its shareholders, after the Spanish company waived most conditions from its A$856 million ($589 million) bid.
Iberdrola and rival Philippine conglomerate Ayala Corp AC.PS both raised their respective bids for Infigen on Monday, hoping to take control of its seven wind farms and a large pipeline of projects.
Ayala increased its offer for the Australian company to A$0.86 per share and declared it free of all conditions, while Iberdrola raised its bid to A$0.89.
Infigen said on Tuesday that Iberdrola had also waived the conditions on its bid, excluding the conditions that it receives approval from Australia's Foreign Investment Review Board (FIRB) and is accepted by more than half of Infigen shareholders.
Infigen said in a statement it expected both these conditions to be met, and urged shareholders to reject Ayala's takeover approach.
($1 = 1.4543 Australian dollars)
News: IFN Australia's Infigen backs revised Iberdrola takeover offer
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$1.19 |
Change
0.000(0.00%) |
Mkt cap ! $160.1M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19 | $1.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.20 | 20000 | 1 |
View Market Depth
| Last trade - 16.10pm 29/07/2025 (20 minute delay) ? |
| IFN (ASX) Chart |
Day chart unavailable