Business Services Industry
Transurban raises Hills stake to 43pc.(Transurban City Link Ltd. and Hills Motorway Group)(Brief Article)
Australasian Business Intelligence, April, 2005 by Pretty, Martin
Apr 04, 2005 (The Australian Financial Review - ABIX via COMTEX)
Transurban has lifted its stake in Sydney-based Hills Motorway to 43.1. However, it may have to increase its scrip offer to win full control, given that key institutional shareholders have said they will not sell at the offer price. Transurban MD Kim Edwards on 4 April 2005 eliminated a perceived incentive for Hills holders to sell into the offer, by stating categorically that Transurban would not proceed with a Hills reorganisation. The planned restructuring had raised the prospect of increased dividend payments. The offer has been extended to 15 April 2005.
Publication Date: 5 April 2005
TRANSURBAN GROUP LIMITED - ASX TCL:
HILLS MOTORWAY GROUP LIMITED - ASX
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