The Effective Launch Of The Existing Abertis’ Bids Will Be Delayed 2-3 mths
The effective launch of the bids for Abertis will be delayed 2-3 months if the CNMV revokes authorisation for Atlantia’s offer and it has to seek prior government approval.
Abertis
Atlantia, Hochtief: Price War Ahead?
Hochtief has launched a €18.76 cash or share offer on Abertis, raising speculation around a potential price war between Atlantia and Hochtief.
ACS Counter-Bid For Abertis Beats All Expectations: Exceeds Atlantia’s At €18,76/Shr
ACS has launched a competing bid for Abertis, via Hochtief, at €18,76 per share. It fits in with our forecast scenario that ACS would offer a higher price than Atlantia (€16,50/share, combining cash and shares which cannot be sold before February 15 2019) in its counter-bid for the Spanish concessionaire.
Atlantia Wins The First Round In The Bid For Abertis; ACS Will Make The Next Move
Spain’s stock market regulator yesterday accepted Atlantia’s bid for Abertis, acknowledging that the content of the explanatory document presented by the Italian company is sufficient and in line with current regulations. The approval also gives Atlantia the possibility of improving its offer and establishes the period for ACS to consider its eventual competing bid.
Abertis’ Future Still Up In The Air; It’s Between ACS And Atlantia
ACS is still looking for the financial muscle to be able to make a counter-bid for Abertis. The company has the capacity to generate cash and has a solid financial situation, but it would need the help of foreign investors to better Atlantia’s bid of 16,5 euros per share.
European concessions stocks outperforming year to date: Abertis amongst top gainers
Carax Alphavalue | European concessions stocks have been outperforming the market in the year so far, with Spain’s Abertis one of the top gainers. Cheap funding has fuelled animal spirits amongst underfunded companies like ACS, which is considering a possible counter-offer to trump Atlantia’s takeover bid for Abertis.
ACS Could Struggle To Enter Abertis Against Atlantia
The construction company is studying a possible counter-bid for Abertis in order to improve Italian Atlantia’s offer price of 16.5 euros, but no decission has been made yet even though the Spanish Securities and Exchange Commission CNMV has already been notified.
Atlantia Offers €16.341 Bn For Abertis. Accept It Or Not?
It’s now official. Atlantia has launched a full takeover bid for Abertis worth 16.341 billion euros, implying a price per share of 16,50 euros. Payment will be made either in cash or via a share exchange.
Abertis: Fitch confirms BBB+rating, with stable outlook, while buying a further 22.52% of A4 Holding
On May 2, Fitch confirmed its BBB+ rating with a stable outlook for Abertis, citing as reasons the company’s recent acquisition of 100% of Sanef and the fact it has less debt than its competitors.
Spain’s Abertis and Italy’s Atlantia could form Europe’s largest motorway operator
Italian motorway and airports operator Atlantia is considering a tie-up with Spain’s Abertis by launching a tender offer. The transaction is valued at some 15-16 billion euros, taking into account the current market value of Abertis. The offer will be made partly in cash and partly in Atlantia shares, with the end result a merger between the two companies.