babcock infrastructure gets alternative offer,

By Madelene Pearson

Sept. 18 (Bloomberg) -- Babcock & Brown Infrastructure Group has received an alternative recapitalization proposal from a global investment bank acting on behalf of eight investors, the Australian newspaper said.

The investment bank’s proposal would be at least A$500 million ($436 million) better than a deal now being discussed by the board that involves a cornerstone investor, the Australian said, citing a letter sent to two Babcock Infrastructure independent directors.

The investors propose supporting A$800 million of a A$1 billion convertible bond and equity issue and a A$350 million bank facility backed by existing lenders, without


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