I believe the execution of the Bid Implementation Agreement with Iberdrola is part of IFN’s UAC defence strategy. It still allows the Board to support a superior proposal - and I expect one will emerge, either a revised bid from UAC or another bidder. This is far from over and the market clearly thinks the same thing given we are trading at a significant premium to Iberdrola’s bid price.
Ann: Infigen Announces Recommended Takeover Offer from Iberdrola, page-51
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