Alinta Limited today lodged its bidder's statement outlining the terms, rationale and strategy for its Offer to acquire all of the shares in The Australian Gas Light Company that it does not already own. Alinta is offering AGL shareholders 1.773 Alinta shares for every AGL share they own, valuing each AGL share at $19.311, a significant premium to where the stock was trading prior to Alinta acquiring its stake. "Alinta is offering AGL shareholders the chance to enhance their investment," Alinta CEO, Bob Browning, said. "With Alinta management in place, and two complementary sets of assets merging, AGL shareholders will benefit from higher dividends than before and a clear growth strategy." Alinta is offering AGL shareholders2: 1 A significant premium on the value of their AGL shares3 2 A track record of higher total shareholder returns 3 A superior dividend forecast to what they have ever received before 4 Proven asset management expertise and fresh ideas 5 Proven financial management expertise 6 A strong acquisition and integration track record 7 A shareholding in Australia's largest energy utility 8 A clear way forward "The AGL Board and the broader market now agree that Alinta's concept of bringing these two businesses together makes absolute sense," Mr Browning said. "Together, Alinta and AGL shareholders can create a truly great Australian energy utility - a blue chip investment that everyone can be proud of. "It is important to stress that if AGL shareholders accept the Alinta Offer they will maintain their exposure to the AGL assets and benefit from the additional benefits brought by Alinta's complementary assets. "Once the merger of these two great businesses is complete, Alinta has a clear and strong strategy for growing the demerged energy and infrastructure entities. "This Bidder's Statement, detailing the merger plan originated by Alinta, provides the first opportunity for AGL shareholders to make a decision during what is obviously a confusing time. "We believe the Alinta Offer and plan offers a compelling alternative to the past performance of AGL. We are offering higher dividends, a management team with a successful track record and a strategy to make the most of their investment. "It is now time for the true owners of AGL to decide."
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