Infratil (ASX:IFT) has affirmed its commitment to its takeover bid for Tilt renewables (ASX:TLT) and says there will be no price increase.
The company says its offer of $2.30 is fair and attractive compensation for shareholders for the value of the existing operational assets and the future potential of Tilt's development pipeline.
Tilt majority shareholders, Infratil and Mercury NZ launched $650 million takeover bid for the renewable energy company last month with a share offer price of NZ$2.30.
The closing date of the offer has now been extended until the 29th of October to allow shareholders sufficient time to accept the offer
Shares in Infratil (ASX:IFT) are trading flat at $3.20