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QIC bids premium for mine power provider

GIANT infrastructure investor QIC, which has A$80 billion in funds under management, has lobbed a $422 million bid for remote area and mine power provider Pacific Energy, with the offer higher than any price the ASX-listed company has traded in a decade.

Haydn Black
Pacific is a major mine power provider.

Pacific is a major mine power provider.

QIC's offer is 97.5c cash, inclusive of a 1.5c fully-franked dividend intended to be paid by Pacific.   The price is a 35.4% premium to Pacific's last traded price of 72c, a 50% premium on the three-month...

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