The electricity company at the centre of a hostile takeover attempt, Tilt Renewables (ASX:TLT) has today released the independent Adviser's report which confirms the takeover offer for the company is inadequate.
The independent expert has valued Tilt at $2.56 to $3.01 per share with a midpoint of $2.79.
The company says the Independent Adviser's view confirms that the $2.30 takeover offer from Infratil (ASX:IFT) and Mercury NZ (ASX:MCY)is inadequate.
Tilt continues to strongly recommend shareholders reject the takeover offer for their shares.
Shares in Tilt Renewables (ASX:TLT) shares are trading flat at $2.13