CP2 Ltd., Transurban Group ’s biggest shareholder , said it intends to hold onto its stake in the Australian toll-road operator and will push for boardroom changes after a bid to buy the company with two Canadian pension funds was rejected.
CP2 Ltd., the Australian fund manager that was part of a failed attempt to acquire toll-road operator Transurban Group , is seeking to quadruple funds under management as it bets on growth in infrastructure assets.
Peter Doherty is returning to music after years of being in the headlines for his personal life. The one-time fiance of Kate Moss, friend of Amy Winehouse and drug addict is playing a solo show on Friday.
Transurban Group shares dropped to a six-month low after analysts said that two Canadian pension funds are unlikely to raise a spurned A$7.2 billion ($6.4 billion) bid and the Australian toll-road operator sold shares at a discount.
Ontario Teachers’ Pension Plan sold its stake in Transurban Group after the Australian toll-road operator rejected a A$7.2 billion ($6.3 billion) bid from the Canadian fund and other investors, two people familiar with the sale said. Transurban shares fell.
Transurban Group’s largest shareholders may scrap plans for a revised takeover offer after the toll road operator announced an agreement to buy Sydney’s Lane Cove Tunnel, the Australian Financial Review reported. CP2 Ltd., which owns 14.5 percent of Transurban, recently teamed with the Canadian Pension Plan Investment Board and the Ontario Teachers’ Pension Plan and had planned a cash offer, the newspaper said, citing CP2 Managing Director Peter Doherty.