Another Bidder for IFN; Iberdrola Announces Cash Takeover Offer @ $0.86

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This is 7.5% higher than the UAC offer announced a couple weeks back at 80c. Interestingly the major shareholder of IFN (TCI Funds, ~33% holding) has a pre-bid agreement supporting the buyout.

The last post about the UAC bid drew some discussion and many people here hold the stock. No source article, info is straight from ASX announcement.

I do find it strange that IFN has now jumped to 89.5c (as at time of posting) on the back of this. Does this mean an even higher bid is expected or has this announcement caused investors to rethink what IFN is actually worth?

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josh__ab

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Posted: 4 years ago
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