A consortium consisting of London-based Ancala Partners and Toronto-based Fiera Infrastructure have won an auction for waste-removal company Augean, with a bid amount of £372 pence ($4.36) per Augean share.
According to Alliance News, this bid bested the £361 pence ($4.23) per share offer from Morgan Stanley Infrastructure's bid vehicle, Antwerp Management.
Ancala and Fiera are bidding through their vehicle, Eleia.
The offer values the hazardous waste–treatment and –disposal company at £390 million ($457 million), a 50 percent premium to the company's stock price in late May before the takeover offers.
The Augean board is expected to unanimously recommend Eleia’s offer to shareholders.
