There has been another extension to the deadline for the full takeover bid for Tilt Renewables Ltd (NZX & ASX: TLT) by its two major shareholders.
Infratil Ltd (NZX & ASX: IFT), through subsidiary Infratil 2018 Ltd, and Mercury NZ Ltd (NZX & ASX: MCY) jointly said this week they have varied their takeover offer for Tilt.
They have extended the deadline date to November 30.
Tilt has already advised shareholders through its independent directors that the offer of $2.30 a share was inadequate. Tilt said that the independent adviser’s report by Northington Partners valued Tilt at between $2.56 and $3.01.