September 13, 2019 / 5:13 AM / 9 days ago

Buyout consortium still shy of squeezeout level in Alpiq offer

FILE PHOTO: The logo of Swiss energy company Alpiq is seen at a branch office in Zurich, Switzerland April 5, 2019. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - A consortium led by CSA Energie-Infrastruktur Schweiz (CSA) has got 89.22% of shares in Swiss utility Alpiq (ALPH.S) after a 70 Swiss francs per share tender offer, according to definitive preliminary results issued on Friday.

That is unchanged from preliminary results released on Tuesday and just short of the 90% threshold needed to squeeze out minority shareholders.

Activist investor Knight Vinke said last month it wants Alpiq to stop its delisting and the squeezeout of minority shareholders.

Reporting by Michael Shields, Editing by John Revill

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