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.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。