Abertis: Atlantia Bid Has Room for Improvement
19 Octobre 2017 - 08:58AM
Dow Jones News
By Nathan Allen
Spanish toll-road operator Abertis Infraestructuras SA (ABE.MC)
said Thursday that a takeover bid it received from Italy's Atlantia
SpA (ATL.MI) has room for improvement.
Atlantia's bid, which was submitted in May, values Abertis at
16.3 billion euros ($19.19 billion) or EUR16.50 per share, but
Abertis has been trading above EUR17 per share since September. The
bid received formal approval from Spain's regulator earlier in the
month, obliging Abertis to issue a response.
In a filing to the market regulator, Abertis's board concluded
that the offer is "positive and attractive from the industrial
point of view," but it believes the cash consideration value could
be improved.
Abertis has become the subject of a bidding war after Germany's
Hochtief AG (HOT.XE) on Wednesday submitted a long-awaited cash and
share offer, valuing the company at EUR18.6 billion, or EUR18.76
per share.
Hochtief's bid is yet to receive regulatory approval and Abertis
has not commented on it.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
October 19, 2017 02:43 ET (06:43 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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