Register  
Canadian pensions pounce on Aus toll road firm
Monday, 9 November 2009 12:05pm

The Canada Pension Plan and Ontario Teachers' Pension Plan, two of the biggest pension plans in Canada, set its sights on Australian-based toll road owner and operator group, Transurban.

Australia's super fund infrastructure asset strategy appears to be resonating with overseas pension funds, as Canada Pension Plan and Ontario Teachers' Pension Plan approached Transurban with an unsolicited indicative non-binding acquisition proposal on Friday.

As a result, Transurban's board and its advisers, Lazard and Mallesons, reviewed the proposal and rejected it on its current terms.

The board said, consistent with its fiduciary duties, it would engage bona fide proposals, which provide value and certainty to shareholders.

Transurban's share price rose nearly 20 per cent following the announcement to $5.24 per share. The group's share price increased slightly in today's morning trade to $5.57 per share.

The group's assets include the CityLink road in Melbourne and the Hills M2 in Sydney. Both roads are wholly owned by Transurban.

Blogs
Follow the industry experts.
Christopher Page
Christopher Page
Managing Director

Breaking out from the FoFA catch-22
Ever since the first draft of the Future of Financial Advice (FoFA) legislation came out, the advice sector has been trapped in a very ...read more
 
Benjamin Ong
Benjamin Ong
Chief Economist

Reflation, rotation and the taper
'Tis being my final type (drivel, to some gentle readers) for the year, we'll take a look back at the 2013 that was to seek the lessons ... read more
 
Alex Dunnin
Alex Dunnin
Director of Research & Editorial Services

MySuper: our verdict is in
Has MySuper worked? Has it lowered fees, simplified superannuation products, lifted returns and made people better off? Yes, yes ... read more
News Search   
VideoBrought to you by
Colonial First State Multi-Asset Real Return Fund
Find out more about the investment philosophy and objective of the Colonial First State Multi-Asset Real Return Fund. Senior Portfolio Manager, Kej Somaia explains. Watch video
Managed Accounts Forum 2014 Highlights
Around 150 delegates attended Financial Standard's inaugural Best Practice Forum in Managed Accounts held in Sydney in August. Financial Standard also launched a new magazine: FS Managed ... Watch video
Why Multi-Asset Solutions?
Joe Fernandes, Head of Global Investment Solutions at Colonial First State Global Asset Management talks about the advantages of objective-based investing in the multi-asset space. Watch video
The New Neutral
At this year's PIMCO Secular Forum, the company's global executives set themselves the challenge of taking a three to five year view and anticipate where the market would be against what investors would ... Watch video
Introduction to Series #07
What are the key challenges advisers face when building retirement portfolios for clients? Watch Joe Fernandes, Head of Global Investment Solutions at Colonial First State Global Asset Management. Watch video
Get it
Daily
FREE to your inbox, get the Financial Standard Daily Email.
Get the Free
iPad app
Download the Financial Standard iPad app for FREE
Industry
Events
SEP
17
OCT
07
Major Market Players Symposium
14
Unlock the value of diversification with mFund
15
Investment Performance Measurement, Attribution & Risk Management
16
Unlock the value of diversification with mFund
20
Family Office Forum
News
Bites
Advertisement

$245 (inc GST) for 1 year
 
 
Copyright © 1992-2014 Rainmaker Group
All material on this site is subject to copyright. All rights reserved. No part of this material may be reproduced, translated, transmitted, framed or stored in a retrieval system for public or private use without the written permission of the publisher.
Link to something tSvkmmUu