Atlantia, the Italian toll roads and infrastructure group, has unveiled its bid to buy Abertis in a deal that values the Spanish rival at €16.3bn.
Atlantia is offering to pay €16.50 a share in cash, or by swapping a share in Abertis for 0.697 of its own shares. Details of the deal were notified to the Spanish stock market regulator in a filing on Monday morning.
A successful deal would create one of the world’s largest toll road and infrastructure companies, but people involved in the bid process warned over the weekend that Atlantia does not have the full backing of Abertis’ key shareholder Criteria.
Read more here: Atlantia starts engine on bid for rival toll road group Abertis