Atlantia, ACS Reach Preliminary Agreement Regarding Abertis
March 14 2018 - 5:51AM
Dow Jones News
By Pietro Lombardi
Italy's Atlantia SpA (ATL.MI) and Spain's Actividades de
Construccion y Servicios SA (ACS.MC) have reached a preliminary
agreement regarding Abertis Infraestructuras SA (ABE.MC), Atlantia
said on Wednesday.
Atlantia didn't provide details of the agreement, which is
subject to approval by the company's board of directors. The
company said the board will meet Wednesday afternoon to discuss the
agreement.
Atlantia and ACS had previously said they were in talks
regarding a potential joint bid for toll-road operator Abertis to
avoid a costly bidding war.
Earlier this week, Spain's market regulator CNMV approved a
takeover bid for Abertis submitted by ACS through its German
subsidiary Hochtief AG (HOT.XE).
In October, Hochtief made a cash-and-share offer that values
Abertis at about 18.6 billion euros ($22.9 billion), which topped
Atlantia's bid valuing it at EUR16.3 billion.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
March 14, 2018 05:36 ET (09:36 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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