Transfield bid not high enough to get deal done, key investor says

Updated December 19 2014 - 12:18pm, first published 11:27am
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.”  Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.” Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.”  Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.” Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.”  Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.” Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.”  Photo: Rob Homer
Transfield Chair Diane Smith-Gander has agreed to enter talks with Ferrovial even as she said the offer didn’t reflect her company’s “underlying value.” Photo: Rob Homer

Ferrovial $1 billion offer for Transfield Services, the company that runs Sydney's ferries, isn't high enough to get a deal done, according to the contractor's biggest shareholder.

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