ACS may make EUR 17bn bid for Abertis to counter Atlantia offer - report (translated)
25 AUG 2017
Spanish construction group ACS [BME:ACS] could make a EUR 17bn bid for Spanish infrastructure group Abertis [BME:ABE] to counter the EUR 16.3bn cash and share offer of Atlantia [BIT:ATL] Italian-language daily Il Messaggero reported. The report cited sources close to the dossier said that ACS chairman and principal shareholder Florentino Perez, is ready to make an offer that would be EUR 0.5 a share higher than that of Atlantia's.
The report said that the bid could be made in the next few days or two weeks at the maximum.
The report claimed that Perez is under pressure from Spanish Prime Minister Mariano Rajoy to make the bid in order to ensure that Abertis remains in Spanish hands.
The report said that the Spanish government also appears to be involved in sounding out investment funds to raise the financing necessary for ACS to carry out the bid.