By Ian Walker
BBGI Global Infrastructure agreed to a 1.06 billion-pound ($1.33 billion) cash offer from Boswell Holdings 3, a new company indirectly controlled by British Columbia Investment Management.
The investment company said Thursday that accepting shareholders would get 147.5 pence in cash for each share held, a 21% premium to its closing price of 121.80 pence on Wednesday.
London-listed BBGI said it expects to declare its interim dividend for the half year ended Dec. 31 in February for payment in April. Given that the payment will be made before the deal is expected to complete, the offer price will be reduced by the value of the dividend.
BCI is a Canadian institutional investor with 250 billion Canadian dollars ($174.68 billion) in gross assets under management at March 31, 2024. It manages a portfolio of diversified public and private market investments on behalf of its British Columbia public pension fund and institutional clients.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
February 06, 2025 02:51 ET (07:51 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。