Business
Infratil (ASX:IFT) share price on watch after rejecting AustralianSuper takeover approach
The Infratil Ltd (ASX: IFT) share price will be on watch today when it returns from its trading halt.
Yesterday afternoon the New Zealand-based infrastructure investment company’s shares rocketed 21% higher before being hurriedly placed into a trading halt.
This followed speculation that Infratil had received a takeover approach from AustralianSuper.
What did Infratil say?
This morning the Infratil board confirmed that it received an initial non-binding, incomplete, indicative and confidential offer from AustralianSuper to acquire the company via a scheme of arrangement.
It first received an offer on 18 October of NZ$6.40 per share, before it was revised higher on Tuesday to NZ$7.43 per share.
Although this represented a 22.2%…
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