September 10, 2019 / 3:33 AM / 2 months ago

Australia's Pacific Energy receives superior rival takeover offer

Sept 10 (Reuters) - Australia’s Pacific Energy Ltd said it had received a takeover bid from a consortium managed by domestic fund manager Infrastructure Capital Group and Canada’s OPTrust, which trumps a previous offer for the power generator.

The offer of A$1.085 per share in cash values Pacific Energy’s equity at about A$470 million ($322.1 million) with an implied enterprise value of A$535 million, the company said in a statement on Tuesday.

In July, Pacific had received an A$419.3 million takeover offer from Australian fund manager QIC Private Capital. (Reporting by Rashmi Ashok in Bengaluru; Editing by Himani Sarkar)

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