Spain's Ferrovial says it does not intend to operate detention centres after taking control of ASX-listed Broadspectrum, which manages the controversial Manus Island and Nauru facilities.
The global infrastructure group on Friday extended its $813 million takeover bid for Broadspectrum to May 13 after receiving acceptances for 59.26 per cent of Broadspectrum shares, exceeding the critical 50 per cent threshold.
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Tim Binsted writes on Business specialising in Agriculture, Construction, Manufacturing. Tim is based in our Sydney newsroom. Connect with Tim on Twitter.
