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ACS's Hochtief launches counter-bid for Abertis

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ACS's Hochtief launches counter-bid for Abertis

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MADRID (Reuters) – Spanish building and infrastructures company ACS <ACS.MC> on Wednesday launched a 17.1 billion euros (£15.2 billion) counter-bid for toll road operator Abertis <ABE.MC> through its German subsidiary Hochtief <HOTG.DE>, it said in a statement. Hochtief’s offer will be made at a price of 18.76 euros for each Abertis share and/or 0.1281 newly-issued Hochtief shares for each Abertis share. The combined Hochtief-Abertis group could deliver synergies of between 6 billion and 8 billion euros, it also said. Sources told Reuters last week that Italian toll-road operator Atlantia <ATL.MI> was ready to raise its takeover offer for Abertis to up to about 17.8 billion euros.

(Reporting by Julien Toyer; Editing by Jesus Aguado)
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