AWG bid pushes water yields to new lows
- From: Vol 7, Issue 10 (October 2006)
- Category: General
- Region: Europe
- Country: United Kingdom
- Related Companies: 3i, AWG, Babcock & Brown, BNP Paribas, Canada Pension Plan Investment Board, Colonial First State Global Asset Management, Fitch, Macquarie, Merrill Lynch, Morrison Construction, Osprey and Thames Water
The £2.25 billion agreed offer for AWG has left industry analysts scratching their heads as to how its sums add up.
Bid vehicle Osprey’s £2.25 billion offer for AWG pushes the value of the bid to a premium of 30% above its regulated asset value, begging the question of how the buying group can make acceptable returns for its investors. Osprey increased its bid from 1,555p to 1,578p on 9 October to head off rumoured counter-offers by ...
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