Tilt Renewables advises shareholders against offer

Company News

by Rachael Jones

A letter released to the ASX from Tilt Renewables (ASX:TLT) advises shareholders to no accept the takeover offer from Infratil (ASX:IFT) and Mercury NZ (ASX:MCY) for their shares.

Tilt is an electricity generation company, dual listed on the New Zealand stock exchange.

The letter from Fiona Oliver, Chair of the Independent Directors’ Committee says the offer price is too low and that it does not adequately value our existing operational assets and the potential for development.

The offer must remain open until the end of 15 October, 2018.

Shares in Tilt Renewables (ASX:TLT) shares are flat at $2.13.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.