Canadian Fund Acquires Aussie Toll Operator For $3B

Law360, New York (August 27, 2010, 5:44 PM EDT) -- Australia-based toll road operator Intoll Group disclosed Friday that it had agreed to be acquired by the Canada Pension Plan Investment Board in a deal valued at about AU$3.4 billion ($3.06 billion).

Under the deal, CPPIB — which manages about $127.9 billion in assets for the Canada Pension Plan — would pay AU$1.52 for each Intoll share, a premium of 36.3 percent compared with the company's July 14 closing price, according to Intoll.

Though they have the option of taking the money, Intoll shareholders could also...
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