Oct 21 (Reuters) - Spain's Iberdrola IBE.MC said on
Wednesday it had secured a 98.25% stake in Australian wind and
solar firm Infigen IFN.AX share capital through a public
takeover offer.
The announcement brings to an end the months-long bidding
war for the control of the Australian firm.
Philippine conglomerate Ayala AC.PS was the first bidder
for the renewable energy company back at the beginning of June
in an offer that valued the company at about A$777 million
($551.98 million).
Iberdrola replied and eventually offered A$893 million for
Infigen. Infigen's independent directors had urged minority investors
to accept Iberdrola's takeover offer a few days after the
company had reported a steep profit decline and suspended
dividends indefinitely. = 1.4077 Australian dollars)