QIC Ltd and AGL Energy need to decide whether to get into a bidding war with Canada’s CDPQ.
CDPQ, a big and acquisitive pension fund with C$360 billion in assets, has turned up with a late $NZ8 a share bid and Tilt’s board, advised by Lazard, has asked QIC and AGL Energy to match it, according to multiple sources involved in the deal.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
Tim Boyd is a journalist, based in Sydney, who writes for the Street Talk column. Connect with Tim on Twitter. Email Tim at tim.boyd@afr.com
