03/04/2007 - 22:00

Alinta lost to WA - Poynton

03/04/2007 - 22:00

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Alinta lost to WA - Poynton
FORMER Alinta Ltd chairman John Poynton believes an opportunity to keep the business Western Australian-based has been lost, with the directors’ decision to accept a $15 per share bid from Babcock & Brown Ltd. Mr Poynton was part of the management buyout team which was backed by Macquarie Bank, which was the losing bidder despite offering a higher price at $15.45 per share, an 11th-hour offer which sought to trump the $7.4 billion Babcock & Brown deal.

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