Australia's Transurban rejects Canada funds' bid
Published: 04 Nov 2009 17:42:50 PSTMELBOURNE, Nov 5 - Australian toll-road operator Transurban Group <TCL.AX> has rejected a takeover approach from two Canadian pension funds but said it would be open to talks on bona fide proposals.
It said the offer came from the Canada Pension Plan Investment Board and the Ontario Teachers Pension Plan Board.
Transurban made the announcement after media speculation that Ontario Teachers Pension Plan Board was planning a A$6 billion ($5.5 billion) buyout of Transurban.
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