CPPIB launches $3.05 billion bid for Australia's Intoll Group
The Canada Pension Plan Investment Board (CPPIB) has launched an A$3.4 billion ($3.05 billion) takeover bid for Australian road toll operator Intoll Group – a cash offer that comes at a 38% premium over the target's latest closing price.
Intoll, which was under the Macquarie Infrastructure Group until January, has assets that include a 25% stake in Sydney's Westlink M7 and a 30% stake in the 407 ETR outside Toronto. Intoll's chairman Paul...
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