Airport bidder confirms acceptances

The Canada Pension Plan Investment Board (CPPIB) today confirmed the final level of acceptances in their Auckland Airport offer.

Ultimately they secured a 'yes' for 63.5 per cent of ordinary AIAL shares.

If the offer gets government approval, shareholders will receive $3.65 a share - less around 5 cents a share to reflect the payment of the interim dividend - for that part of their portfolio that falls within the CPPIB offer.

That amounts to around a $1.8 billion payout in total.

The deadline for the government's decision is April 11.