July 24 (Reuters) - Spain's Iberdrola said on
Friday it received further acceptances from shareholders for its
takeover of Australian wind and solar firm Infigen Energy
, meeting a condition that would see the offer price
increase by 3 cents.
With the increase announced earlier this week conditional on
acceptances of a further 13%, Infigen shareholders will now
receive A$0.92 per share from the Spanish utility firm hoping to
finalise the deal after a month-long battle with Philippine
conglomerate Ayala Corp.
The Spanish firm's twice-improve improved offer with the
backing of Infigen now stands at A$893.1 million ($634.28
million) and comes around a week after Ayala said it would not
improve its bid.
Iberdrola said it now holds 38.06% of Infigen following the
13.5% of acceptances received on Thursday.
($1 = 1.4081 Australian dollars)
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by