The new offer is said to include a full-cash option which might make it more appealing to Alinta shareholders who have already been told to vote in favour of another bid from Babcock Brown BNB and Singapore Power. Alinta signed a scheme of arrangement with BNB Singapore Power on March 30, after considering competing proposals from the BNB consortium and Macquarie Bank. It shunned Macquarie Bank's first offer because it involved too much financial engineering.
The scheme of arrangement with BNB Singapore Power includes...
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