Transurban rejects $6bn offer from Canada funds

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AUSTRALIA/CANADA - Transurban Group, Australia's biggest toll road operator, rejected an unsolicited A$6.8bn ($6.2bn) takeover offer from Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan, Bloomberg News reported.

The cash and stock offer valued Transurban shares at A$5.25 each, 20 percent more than yesterday's closing price, the Canadian funds said in a statement today. Melbourne-based Transurban said the o...

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