Independent Adviser says takeover bid for Tilt Renewables inadequate

Company News

by Anna Napoli

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

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.