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
Copyright 2021 Alliance News Limited. All Rights Reserved.
