9th Oct 2015 06:34
LONDON (Alliance News) - Balfour Beatty Infrastructure Partners LP, a fund in which FTSE 250 construction firm Balfour Beatty PLC invests, said Friday that its offer to acquire Alkane Energy PLC had received valid acceptances of around 77.81%.
Last month the investment firm agreed a 36 pence per share deal for AIM-listed Alkane, valuing the power generator at GBP61.4 million.
The offer has been extended to October 22, and Alkane shareholders who have not yet accepted the offer were urged to do so "without delay".
Following the offer being declared unconditional, the company intends to cancel the admission of Alkane shares to trading on AIM.
On Thursday the deal received approval from the US Secretary For Energy and Climate Change.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Balfour BeattyAlkemy Capital.