Broadspectrum Limited
(ASX:BRS) bidder Ferrovial Services Australia has extended its offer period by two weeks.
The move comes following Broadspectrum’s letter to shareholders, advising them to reject Ferrovial’s takeover bid, labelling the proposal “opportunistic” and “highly conditional”.
Ferrovial has decided to extend the offer period by two weeks, until 7pm on 22 February 2016.
The company also advised the offer is not free from any of the conditions set out in the bidder’s statement.
Broadspectrum recorded a net profit of $48.6 million at 30 June 2015.
