MADRID: Ferrovial Spanish infrastructure group plans to raise its full takeover offer for Australia’s Transfield Services Limited.
Ferrovial has proposed an offer of A$2.1 per share, valuing Transfield at A$1.076 billion, according to Expansion. The new proposal has been passed to Transfield’s board which could reach a decision within hours.
On Oct. 20, Ferrovial offered A$1.95 per share for Transfield, which runs Australia’s offshore refugee detention centers, valuing the company at around A$1 billion, but the board said it did not reflect the company’s underlying value.
Ferrovial signed a confidentiality agreement with Transfield Nov. 11 allowing the Spanish group to conduct limited due diligence.
