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Shares in Nauru and Manus operator up 50% after $715m takeover bid

Discussion in 'Market News' started by Lily, Dec 7, 2015.

  1. Lily

    Lily Forum Member

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    The Spanish infrastructure giant Ferrovial is trying for a second time to buy Broadspectrum, the company which runs the camps on Nauru and Manus

    The Spanish conglomerate Ferrovial is making a second tilt at the Australian detention centre operator Broadspectrum with a cut-price $715m takeover bid.

    Shares in Broadspectrum, the company formerly known as Transfield Services, soared almost 50% on Monday after Ferrovial unveiled its latest move for the operator of Australia’s offshore detention centres.

    Related: Transfield given $1.5bn over three years to manage Nauru and Manus centres

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