Redflex Rejects Offer from Carlyle, Macquarie

Australia’s Redflex Holding lost a third of its market value Tuesday after rejecting a 303 million Australian dollar ($327 million) takeover bid by the Carlyle Group and investment bank Macquarie Group Ltd., Reuters reported. Private equity firm Carlyle and Macquarie last week raised their offer to A$2.75 from A$2.70 per share. Redflex manufactures and operates highway safety equipment such as digital speed and red-light cameras.

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