| Add RSS Feed

29 April 2005 - Shares in Australian renewable energy group Pacific Hydro have been suspended until May 2 while talks with rival suitors continue.

Pacific Hydro, which specializes in electricity generation from wind and hydro projects, is currently the subject takeover bids from Acciona and Australian superannuation fund Industry Funds Management (IFM).

Acciona initially launched its A$4.50 a share cash bid for Pacific Hydro in March which is subsequently revised to A$4.90 and this offer was recommended by directors. This valued Pacific Hydro at A$772m based on equity value. IFM has today surpassed this bid with a A$5.00 per share offer, subject to minimum acceptance of 50.1 pert cent of shareholders. The revised IFM offer has the backing of Pacific Hydro's independent directors.

| Add RSS Feed

---

More Business Articles >

Search Archives >

Power Engineering Article Categories:

Business		Projects/Contracts
Industry News		Deregulation
Environmental		Русский язык
Power Generation Young Professionals		Honeywell Automation & Control Solutions
HoneyWell Press Releases		HoneyWell Product Information
Power Engineering International Current Issue Table of Contents
Power Engineering Current Issue Table of Contents
Potencia Current Issue Table of Contents
Nuclear Power International Current Issue Table of Contents
Middle East Energy Current Issue Table of Contents

---

Search Products Buyer's Guide >

Search Industry Jobs >

Magazine & E-Newsletter Subscriptions >