Ferrovial & Broadspectrum: Going To The Mattresses

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Event-Driven

<ul><li>The Armada returns with Spain's Ferrovial announcing an AUD 1.35 per share all-cash takeover offer for Broadspectrum (previously Transfield), representing a compelling 59% premium to the prebid price.</li><li>This is Ferrovial's second attempt following an unsuccessful AUD 2.00 per share offer in December 2014, which was knocked back by the Transfield board.</li><li>Broadspectrum is a long-established operations and maintenance services provider that holds solid domestic market share.</li><li>The company's main exposures are to the infrastructure, defence, property, social, energy and mining sectors.</li><li>The diverse revenue base aims to lower risk and expanding growth opportunities. The business' key strength stems from the ability to lock out competitors through long-running maintenance contracts and developed knowledge of client operations</li></ul><p><em>Analyst: Mark Taylor</em></p>

The Armada returns with Spain's Ferrovial announcing an AUD 1.35 per share all-cash takeover offer for Broadspectrum (previously Transfield), representing a compelling 59% premium to the prebid price.This is Ferrovial's second attempt following an unsuccessful AUD 2.00 per share offer in December 2014, which was knocked back by the Transfield board.Broadspectrum is a long-established operations and maintenance services provider that holds solid domestic market share.The company's main exposures are to the infrastructure, defence, property, social, energy and mining sectors.The diverse revenue base aims to lower risk and expanding growth opportunities. The business' key strength stems from the ability to lock out competitors through long-running maintenance contracts and developed knowledge of client operationsAnalyst: Mark Taylor

Ferrovial's All-Cash A$1.35 Takeover Offer for Broadspectrum Could Appeal This Time Around

Broadspectrum Ltd

Ferrovial's All-Cash A$1.35 Takeover Offer for Broadspectrum Could Appeal This Time Around