Ferrovial, the global operator of services and infrastructure, has announced that it has received acceptances of its offer for 92.05% of Broadspectrum shares. Ferrovial has extended the offer period until 7pm (Sydney time) on Friday May 20, the date until which remaining shareholders can continue to voluntarily accept it.
As previously announced, given that Ferrovial’s interest in Broadspectrum now exceeds 90%, Ferrovial will commence in the coming days the compulsory acquisition process to acquire all the remaining Broadspectrum shares that were not acquired under the takeover offer to thereby acquire a 100% interest and de-list the company.
On the other hand, Broadspectrum has announced a number of changes to the Board, incorporating the new Ferrovial representatives.
Broadspectrum is an Australian publicly listed corporation providing operations and maintenance, asset management, project and capital management outsourcing and infrastructure development services to the resources and industrial, infrastructure services and property and facilities management sectors. The company operates in Australia and New Zealand, Canada, the United States, Chile, Brunei, New Caledonia, and The Philippines.
We have recently reported about another acquisition of Ferrovial. The company, through its subsidiary Webber, acquired Texan company Pepper Lawson Construction. This company is specialized in water infrastructure and commercial construction in the North American market. Pepper Lawson’s annual revenues amount US$200 million and it has a workforce of over 250 people.