September 5, 2018 / 10:36 PM / 3 months ago

NZ's Infratil believes NZ$2.30 per share Tilt offer to be 'fair'

Sept 6 (Reuters) - New Zealand power utility Infratil Ltd said on Thursday it continues to believe that a NZ$2.30 per share buyout offer price for wind farms owner Tilt Renewables Ltd is “reasonable and fair”.

Tilt’s majority shareholders, electricity retailer Mercury NZ and Infratil, acting through a unit, jointly proposed a NZ$2.30 per share cash offer of the electricity generation firm on Aug. 15.

Tilt advised its shareholders on Tuesday to reject the offer, terming it “simply too low”.

Reporting by Karthika Suresh Namboothiri Editing by Chris Reese

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