Atlantia to Decide on Abertis Bid Price, Structure Once Rival Bid Approved

By Pietro LombardiFeaturesDow Jones Newswires

Italy's Atlantia SpA (ATL.MI) said Friday it would decide whether it would change its 16 billion euro ($19.55 billion) takeover offer for Abertis Infraestructuras SA (ABE.MC) once authorities approve Hochtief AG's (HOT.XE) rival bid.

"The company wishes to specify that any decision of the board of directors regarding the offer for Abertis, in particular with regard to the price and structure, including the eventual waiver of the minimum acceptance condition of the Partial Share Alternative or other condition, could be taken and announced once the competing offer over Abertis has been authorized," the Italian company said.

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Atlantia also said it would convene shareholders on Feb. 21 to approve some changes to a capital increase related to the Abertis bid, including an extension of the deadline for its execution to Nov. 30 from April 30.

Germany's Hochtief AG, which is controlled by Spain's Actividades de Construccion y Servicios SA (ACS.MC), has launched a EUR18.6 billion bid for Abertis.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

January 19, 2018 13:13 ET (18:13 GMT)