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Analyst Wrap, 28 May 2005

IT looks as if Pacific Hydro will remain in Australian hands. The renewable company's independent directors are recommending shareholders reject Spanish corporation Acciona's offer of $4.90 per share, which is 10 cents lower than the $5.00 cash per share offer made by Australian group, Industry Funds Management (IFM).

Steve Rotherham
Analyst Wrap, 28 May 2005

The company's independent directors – all directors other than IFM nominees – recommended that shareholders accept IFM's offer, in the absence of a superior proposal. Another ASX-listed renewable energy...

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