Augean Agrees to New $492 Million Takeover Bid From Morgan Stanley
08 Setembro 2021 - 1:16PM
Dow Jones News
By Jaime Llinares Taboada
Morgan Stanley has raised its takeover offer for U.K.
waste-management company Augean PLC to 356.9 million pounds ($492.0
million), outbidding Ancala Partners LLP and Fiera Infrastructure
Inc.
Augean said Wednesday that it has agreed to a 340 pence-a-share
offer from Antwerp Management Ltd., a company owned by funds
managed or advised by the U.S. investment bank.
The Morgan Stanley offer represents a premium of 15 pence to the
325-pence offer that Augean agreed on in late August with Ancala
and Fiera. Morgan Stanley had previously made an offer of up to 300
pence.
Augean said its directors consider the increased Morgan Stanley
offer to be fair and reasonable, and intend to recommend
shareholders to vote in favor of the transaction. Therefore, the
company has withdrawn its recommendation of the Ancala-Fiera
offer.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 08, 2021 12:01 ET (16:01 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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