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Unsolicited takeover offer
from Infratil and Mercury

  • Cameron Partners together with alliance partner, Rothschild & Co advised the Independent Directors of Tilt Renewables on the unsolicited takeover offer from a JV comprising the major shareholders of the company, Infratil and Mercury

  • Tilt Renewables a leading renewable energy generation company with operating windfarms and a development pipeline across New Zealand and Australia. It is listed on both the New Zealand and Australian stock exchanges

  • The JV partners owned approximately 78% of Tilt Renewables (including shares over which they had an option at the offer price).  The offer was not recommended by The Independent Directors.  Despite this, and a number of positive announcements from the company during the offer period, the offer price was not increased

  • The offer closed without reaching the 90% threshold

  • Cameron Partners and Rothschild & Co advised the Independent Directors on all aspects of the response including valuation, engagement with the JV and communications with shareholders