Canada funds offered A$5.25 a share for Transurban Wed Nov 4, 2009 10:50pm EST Email | Print | Share| Reprints | Single Page[-] Text [+] More News UPDATE 2-Australia's Transurban spurns Canada funds' offer 9:15pm EST Australia's Transurban rejects Canada funds' bid 7:25pm EST Market News Wall Street rally fades late after Fed; Cisco up late | Video Asia shares dip; dollar shaky on cautious Fed | Video Dollar, yen gain as profits taken in euro before ECB More Business & Investing News... Featured Broker sponsored link MELBOURNE, Nov 5 (Reuters) - Two Canadian pension funds said on Thursday they had offered A$5.25 a share in a rejected offer to buy out Australian toll road operator Transurban Group (TCL.AX).
See [ID:nSYD544423] for a full story.
The two funds, Canada Pension Plan Investment Board and the Ontario Teachers Pension Plan Board, said they proposed to let shareholders choose between the cash offer or a share rollover into an unlisted group with a top-up, or a combination of both.
"CPPIB and OTPP note Transurban's willingness to enter into constructive discussions on bona fide proposals and look forward to the opportunity to discuss the details of the proopsal with Transurban," they said in a statement.
The funds already own about 28 percent of Transurban. (Reporting by Sonali Paul; Editing by Jonathan Standing)
TCL Price at posting:
$5.22 Sentiment: LT Sell Disclosure: Held
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