RPT-Sherritt sweetens bid for Royal Utilities

TORONTO, April 14 (Reuters) - Sherritt International Corp (S.TO: Quote, Profile, Research) said on Monday that it would boost the cash portion of its bid for Royal Utilities Income Fund RU_u.TO by C$25 million, valuing the cash portion of the new bid at C$250 million.

The new deal sees Sherritt offering C$12.68 cash per unit, up from its previous offer of C$12.25 a unit.

The joint statement said the number of Sherritt common shares issuable will remain at 31.4 million. ($1=$1.02 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)