Atlantia CEO Open to New Abertis Bid After Rival Offer -Newspaper
October 19 2017 - 4:31AM
Dow Jones News
By Sarah Sloat
Italy's Atlantia SpA (ATL.MI) is open to considering a change to
its 16.3 billion-euro ($19.19 billion) bid for infrastructure
company Abertis Infraestructuras SA (ABE.MC), a day after Germany's
Hochtief AG (HOT.XE) made a higher counteroffer, Italian newspaper
Corriere della Sera reported on its website late Wednesday.
"We remain strongly convinced of the economic and industrial
validity of our offer for shareholders of Atlantia and Abertis and
reserve the right to evaluate, in accordance with the law, any
possible modification or decision regarding our offer," Atlantia
Chief Executive Giovanni Castellucci told the newspaper.
Hochtief, the German arm of Spain's Actividades de Construccion
y Servicios S.A. (ACS.MC), made a counteroffer of EUR18.6 billion
for Abertis on Wednesday.
Earlier Thursday, Abertis said Altantia's offer was "positive
and attractive from the industrial point of view," but that the bid
itself had room for improvement.
Write to Sarah Sloat at sarah.sloat@wsj.com
(END) Dow Jones Newswires
October 19, 2017 04:16 ET (08:16 GMT)
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