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New Tilt Renewables bid at $NZ8; QIC, AGL consider matching – The Australian Financial Review
QIC Ltd and AGL Energy need to decide whether to get into a bidding war with Canada’s CDPQ.
Now, though, the group finds itself NZ20¢ a share behind CDPQ. Street Talk revealed CDPQ as the new suitor on Thursday night.
CDPQs offer is understood to be binding and fully funded. The group performed diligence on Tilt as part of the earlier two-stage auction.
PowAR and Mercury have a matching right and break fee, negotiated as part of the $2.7 billion scheme of arrangement. Sources involved in the new auction said the matching right, which gives the suitor five days to match any superior offer,…
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