Independent Adviser says takeover bid for Tilt Renewables inadequate

17/09/2018 10:45:00

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The electricity company at the centre of a hostile takeover attempt, Tilt Renewables (ASX:TLT) has today released the independent Adviser's report which confirms the takeover offer for the company is inadequate.

The independent expert has valued Tilt at $2.56 to $3.01 per share with a midpoint of $2.79.

The company says the Independent Adviser's view confirms that the $2.30 takeover offer from Infratil (ASX:IFT) and Mercury NZ (ASX:MCY)is inadequate.

Tilt continues to strongly recommend shareholders reject the takeover offer for their shares.

Shares in Tilt Renewables (ASX:TLT) shares are trading flat at $2.13