Atlantia Confirms Preliminary Talks With ACS on Joint Abertis Bid
08 Mars 2018 - 10:02AM
Dow Jones News
By Nathan Allen
Atlantia SpA (ATL.MI) said Thursday that it has held preliminary
talks with Actividades de Construccion y Servicios SA ACS.MC) over
a joint offer for Abertis Infraestructuras SA (ABE.MC), confirming
Spanish media reports.
ACS also confirmed the talks in a filing sent to the market
regulator early Thursday.
Spanish newspaper Expansion reported that Atlantia and ACS are
looking to reach a joint-ownership agreement for Abertis in order
to avoid prolonging the bidding war that has driven up Abertis's
share price by 35% since May.
The newspaper reported that the two companies would split
Abertis's Spanish and international assets between themselves.
However, ACS and Atlantia said they hadn't reached a definitive
agreement.
Banking foundation La Caixa, which through holding company
Criteria Caixa owns 22% of Abertis, is also involved in the talks,
according to Expansion.
Shares in Abertis fell 3.7% in early trade on the news, while
ACS and Atlantia stock rose 7.8% and 5.2% respectively.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
March 08, 2018 03:47 ET (08:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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