Intoll Group (ASX:ITO) has rebounded from a loss in 2009 to post a profit of $1.55 billion for the year to 30 June.
Including discontinued operations it reported a loss before tax of $375 million, compared with a $197.9 million loss a year earlier.
Intoll has also announced that it has entered into a scheme implementation agreement for the acquisition of all its issued capital via scheme of arrangement.
The toll road owner says it has recommended an enhanced $3.4 billion takeover proposal for the company from Canada Pension Plan Investment Board.
The pension fund has offered $1.52 cash per Intoll staples security, an increase of around 2.5 cents from its first proposal in July.
Intoll says the offer is a highly attractive premium to the July trading price and has unanimously recommended the cash proposal to Intoll investors.
Intoll Group reported a loss of $1.7 billion for the year to 30 June 2009.
ITO Price at posting:
$1.48 Sentiment: None Disclosure: Held
