Atlantia to Decide on Abertis Bid Price, Structure Once Rival Bid Approved
January 19 2018 - 12:28PM
Dow Jones News
By Pietro Lombardi
Italy's Atlantia SpA (ATL.MI) said Friday it would decide
whether it would change its 16 billion euro ($19.55 billion)
takeover offer for Abertis Infraestructuras SA (ABE.MC) once
authorities approve Hochtief AG's (HOT.XE) rival bid.
"The company wishes to specify that any decision of the board of
directors regarding the offer for Abertis, in particular with
regard to the price and structure, including the eventual waiver of
the minimum acceptance condition of the Partial Share Alternative
or other condition, could be taken and announced once the competing
offer over Abertis has been authorized," the Italian company
said.
Atlantia also said it would convene shareholders on Feb. 21 to
approve some changes to a capital increase related to the Abertis
bid, including an extension of the deadline for its execution to
Nov. 30 from April 30.
Germany's Hochtief AG, which is controlled by Spain's
Actividades de Construccion y Servicios SA (ACS.MC), has launched a
EUR18.6 billion bid for Abertis.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
January 19, 2018 13:13 ET (18:13 GMT)
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