But the $7 billion company could still reject both proposals and choose its own restructure by splitting its infrastructure assets from its high-growth infrastructure and trading business.

About three weeks ago, chairman John Akehurst said Alinta would only sell to a “significantly superior” offer.

One consortium, comprising Hong Kong’s Cheung Kong Infrastructure, Wesfarmers and Goldman Sachs, pulled out of the bidding war just before the deadline last Friday.

As a result, Alinta now has two bidders – Babcock and Brown in partnership with Singapore Power, and Macquarie, which had originally backed the earlier management buyout offer.