OMERS Infrastructure related stories
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OMERS lowers bid for Teranet by 6.8% per unitCiting deteriorating economic and financial market conditions and increasing cost of capital, Canadian pension’s infrastructure investment unit has lowered its bid for the Toronto Stock Exchange-listed income fund by about C$116m.
- OMERS cleared for C$2bn Teranet takeover
Unable to find a superior offer amid 'the current turmoil in the capital markets', Teranet’s board withdrew its opposition to OMERS’ unsolicited bid for the provider of electronic land registry services. The offer was set to expire on 17 Oct.
- OMERS expands ownership in takeover target Teranet
The move follows Teranet’s rejection of the pension fund’s hostile bid to acquire the company for C$11 per share. The offer, made three weeks ago by an affiliate of the fund’s infrastructure arm, Borealis Infrastructure, valued the Toronto-listed income fund at C$2bn.
- OMERS infrastructure affiliate bids C$2bn for Teranet
The pre-emptive offer has been made following three previous attempts to initiate takeover negotiations of Teranet, a publicly listed e-service company with a monopoly on the Ontario Electronic Land Registration System.
- TXU sells $1.25bn stake in electricity distributor
TPG, Kohlberg Kravis Roberts and Goldman Sachs have sold a minority stake in the electricity distribution arm of portfolio company Energy Future Holdings, formerly TXU. The sale is the first since the record $45bn buyout closed in October 2007.
- Canadian pensions in gas network megadeal
The infrastructure investment arms of Ontario Teachers’ Pension Plan and OMERS, respectively, will acquire gas distribution networks in the UK from National Grid Transco in a £3.16bn deal.