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SYDNEY - Australian energy infrastructure group Alinta Ltd, which has put itself up for sale after receiving a management buyout offer, said on Friday it would recommend a bid by a consortium led by Australia's Babcock & Brown.
The Perth-based company said in a statement that the offer from Babcock, in partnership with Singapore Power, values Alinta at A$15 ($17.14) a share.
Babcock's offer was a mixture was of cash and shares, Alinta said.
Alinta has also had offer from investment firm Macquarie Bank Ltd.
- REUTERS