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Investors cheer Spark Infrastructure’s $5.2 billion takeover

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Spark Infrastructure’s stock climbed on news the board had agreed to a $5.2 billion takeover by a consortium led by private equity giant Kohlberg Kravis Roberts and the Ontario teachers’ pension fund.

The consortium completed due diligence over the weekend, firming up its $2.95 per security offer, a price the board managed to coax out of the consortium in the absence of rival suitors and without granting exclusive due diligence.

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Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office. Connect with Elouise on Twitter. Email Elouise at elouise.fowler@afr.com.au

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    Original URL: https://www.afr.com/companies/infrastructure/spark-infrastructure-accepts-5-2-billion-takeover-20210823-p58l0l