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IN BRIEF: UK Takeover Panel to settle Augean bidding war by auction

Thu, 16th Sep 2021 17:58

Augean PLC - hazardous waste treatment and disposal company - UK Takeover Panel has decided to settle two separate bids for the company via an auction procedure, which will commence on next Thursday and last five rounds maximum until Friday next week.

In late August, Eleia Ltd, formed by investment funds managed by London-based Ancala Partners LLP and Toronto, Canada-headquartered Fiera Infrastructure Inc, offered 325 pence per Augean share, valuing the AIM listing at GBP341.2 million.

The offer reflected a 16% premium to Morgan Stanley Infrastructure's original 280p per share bid. In early September, Morgan Stanley Infrastructure increased its offer to 340p per share, valuing Augean at GBP356.9 million.

Current stock price: 355.00 pence

Year-to-date change: up 67%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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6 Jul 2009 14:26

London afternoon: Defensives in favour as stocks slide

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6 Jul 2009 12:07

London midday: Miners drag Footsie down

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6 Jul 2009 10:30

Augean no longer in talks

Hazardous waste management firm Augean confirmed that it is no longer in talks with any party about a possible offer after One Fifty One pulled out of a bid. The group said talks with One Fifty One were terminated after no offer was forthcoming "at a level or structure which the board was prepared

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IN BRIEF: UK Takeover Panel to settle Augean bidding war by auction

London close: Late rally fizzles out

London afternoon: Defensives in favour as stocks slide

London midday: Miners drag Footsie down

Augean no longer in talks

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