Carlyle and Macquarie bid for Redflex stopped short
Three months after The Carlyle Group and Macquarie Group made inroads to acquire Australian traffic light and road safety firm Redflex Traffic Systems, offering approximately A$300 million ($302 million) - a 21% premium - for the asset, a key company backer has reportedly blocked the consortium’s offer, leading to both a drop in its market value and in shareholders confidence.
According to Australian reports, Redflex's former Chairman Chris Cooper, who owns more than 11% of the company, rejected the bid, halting Carlyle and Macquarie's pursuit despite receiving approval from...
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