Jan 20 (Reuters) - Broadspectrum Ltd (BRS) :
- Refers to takeover bid made by Ferrovial Services Australia for all the ordinary shares in Broadspectrum
- Broadspectrum directors recommend shareholders reject ferrovial's offer
- Upgrading guidance for FY 2016 and with a solid outlook for FY 2017
- Independent expert's report concludes offer is not fair and not reasonable
- Upgraded guidance for FY 2016 underlying EBITDA to between $265 million to $285 million
- Ferrovial's highly conditional offer significantly undervalues broadspectrum's shares
- "Outlook for FY 2017 is positive, with $2.3 billion in contracted revenue already in hand as at 31 December 2015"
