A better takeover bid may be in the offing for energy company Tilt Renewables.
Photo: 123rf
Trading in the company's shares has been halted at the company's request, ahead of an announcement of a possible superior offer being made.
Last month a coalition of Australian investors and Mercury Energy combined to make a near $3 billion offer for Tilt.
That deal would see several Australian companies - collectively called PowAR - take control of Tilt's four Australian windfarms, while Mercury will buy the four New Zealand farms for $770m.
In February, Tilt said it had received several non-binding bids from would-be buyers, and media speculation named Australian Super, Canadian pension fund CDPQ, and Australian energy company APA as all having shown interest.
Australian Super made an unsuccessful $5.4 bn offer last December for utilities investor Infratil, Tilt's majority owner.
The trading halt on Tilt will stay in place up to Monday 19 April unless an announcement is made earlier.
