(Reuters) – Australia’s Infigen Energy is still going over a takeover offer to the tune of A$777 million ($535.82 million) by Philippine conglomerate Ayala Corp, the renewables firm said on Thursday, but described the bid as “opportunistic”.
The comment follows Wednesday’s cash offer of A$0.80 a share by UAC Energy Holdings, a joint venture of Ayala’s AC Energy and Hong Kong-based UPC Renewables Group, for a firm whose shares have been hit by lower power prices.
($1=1.4501 Australian dollars)
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Clarence Fernandez)
