Spain's Market Regulator Approves Hochtief Takeover Bid for Abertis
March 12 2018 - 04:59AM
Dow Jones News
By Alberto Delclaux and Marc Bisbal Arias
Spain's market regulator CNMV said Monday that it has approved
Hochtief AG (HOT.XE)'s takeover bid for Abertis Infraestructuras SA
(ABE.MC).
Hochtief parent company Actividades de Construccion y Servicios
SA (ACS.MC) and Atlantia SpA (ATL.MI) had previously said they were
in talks regarding a potential joint bid for toll-road operator
Abertis to avoid a costly bidding war.
The companies didn't specify the content of the negotiations, or
whether they would let Hochtief's bid prosper and subsequently
split the company's assets or make an improved bid via a newly
created joint entity.
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 Alberto Delclaux at alberto.delclaux@dowjones.com and
Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
March 12, 2018 04:44 ET (08:44 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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