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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Infigen Energy Limited    IFN   AU000000IFN8

INFIGEN ENERGY LIMITED

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Infigen Energy : UAC Energy Raises Offer Price in Takeover Bid for Infigen Energy

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06/29/2020 | 03:09am EDT

By Ben Otto

UAC Energy Holdings has raised its offer in a takeover bid for Infigen Energy, matching a competing offer from Iberdrola SA.

UAC said Monday that it would offer 86 Australian cents (59 U.S. cents) per stapled security to acquire Infigen, up from 80 cents previously. The new price matches a more recent offer by Spain's Iberdrola, which valued renewable-energy provider Infigen at A$835 million.

UAC, an Australian company owned by AC Energy Group and UPC Renewables Australia, already has an aggregate 12.82% stake in Infigen.

UAC said its offer was unconditional, and that it would procure the provision of an unsecured loan to Infigen to refinance its corporate facility, if required.

"The improved UAC offer is at a compelling price equal to the level at which the Infigen board endorsed a competitor's bid," UAC said, and "does not have a minimum acceptance condition, and allows security holders to accept the offer for all or part of their stapled securities."

Infigen shares were last up 3.1% at A$0.913, taking its year-to-date gain to 40%.

 

Write to Ben Otto at ben.otto@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
IBERDROLA, S.A. -2.59% 10.335 Delayed Quote.12.47%
INFIGEN ENERGY LIMITED -1.08% 0.92 End-of-day quote.41.54%
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Financials
Sales 2021 220 M 157 M 157 M
Net income 2021 13,0 M 9,24 M 9,24 M
Net Debt 2021 401 M 285 M 285 M
P/E ratio 2021 66,4x
Yield 2021 2,15%
Capitalization 903 M 645 M 641 M
EV / Sales 2021 5,92x
EV / Sales 2022 6,29x
Nbr of Employees -
Free-Float 1,07%
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Mean consensus OUTPERFORM
Number of Analysts 2
Average target price 0,90 AUD
Last Close Price 0,93 AUD
Spread / Highest target -1,08%
Spread / Average Target -3,23%
Spread / Lowest Target -5,38%
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Managers
NameTitle
Ross Kenneth Rolfe Chief Executive Officer, Executive Director & MD
Leonard Francis Gill Independent Non-Executive Chairman
Tony Clark Executive General Manager-Operations & Projects
Emma Rachel Stein Independent Non-Executive Director
David Jose Mesonero Molina Director
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