Transfield Services Limited, based in Sydney, provides operations and maintenance services, asset management, project and capital management outsourcing and infrastructure development services. The firm operates across diverse industries, including transport (road, rail and public transport), and utilities (water, power, and telecommunications), among others.
Ferrovial Services believes the proposal represents a compelling proposition for Transfield Services' shareholders. The proposal price represents a substantial premium to recently traded prices, including:
Ferrovial Services noted in a press release that the Board of Transfield Services is not willing to support its current proposal and intends to provide only limited due diligence.Ferrovial said sufficient due diligence is required so that it can put forward a definitive transaction that can be considered by shareholders.
Diane Smith-Gander, Transfield Services Chairman, stated:
The Board of Transfield Services has considered Ferrovial's proposal with the company's advisers and has formed the view that the price of US$1.95 per share does not reflect the underlying value of Transfield Services shares.