Transfield in exploratory talks with suitor

Company News

Transfield Services Limited (ASX:TSE) is carrying out exploratory discussions into the merit of a takeover proposal from Ferrovial which it had previously been rejected.
 
The operations and asset management company says the shareholder’s best interests are served by conducting discussions but offers no certainty that an acceptable proposal will eventuate.
 
The company announced the news as part of its AGM in which it upgraded its full year guidance to between $260 million to $280 million.
 
Chairman Diane Smith Gardner says the financial position continues to strengthen while a new operating model is providing a clear focus on strategic delivery.
 
Transfield services reported a net profit of $52.8 million in the 2014 financial year