Tilt Renewables' Tararua wind farm. Photo / SUPPLIEDMercury NZ and infrastructure investor Powering Australian Renewables (PowAR) have lifted their offer for Tilt Renewables to $8.10 a share from $7.80 in response to a reported Canadian bid. Tilt's shares last traded on the NZX at $7.60. Under the revised agreement, PowAR will acquire all the shares of Tilt - including Mercury's shares - at $8.10 for a total of $3.07 billion. The Scheme requires Tilt shareholder approval and is conditional on High Court approval, and regulatory approvals.

Source: New Zealand Herald April 17, 2021 03:45 UTC