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Australia's Transfield soars on approach from Spain's Ferrovial
October 20, 2014 / 12:11 AM / 3 years ago

Australia's Transfield soars on approach from Spain's Ferrovial

SYDNEY (Reuters) - Shares in Australia’s Transfield Services Ltd TSE.AX jumped as much as 29 percent on Monday after the company said it had received an indicative offer from Spain’s Ferrovial SA (FER.MC) valuing it at around A$1 billion.

Shares in Transfield hit a high of A$1.94 and last traded up 26 percent at A$1.89, compared to the A$1.95 per share approach that Transfield said undervalued the company.

Reporting by Lincoln Feast; Editing by Edwina Gibbs

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