Australia's Infigen picks $569m offer from Spain's Iberdrola over Ayala bid

Australia's Infigen picks $569m offer from Spain's Iberdrola over Ayala bid

Wind turbine. Photo: Pixabay

Infigen Energy Ltd recommended on Wednesday an A$827.5 million ($569.1 million) buyout bid from Spain’s Iberdrola to its shareholders, and urged them to reject an earlier offer from Philippine conglomerate Ayala Corp.