KEY POINTS:
Australian investor Babcock & Brown Infrastructure (BBI) has lodged a revised takeover offer for US utility NorthWestern Energy, after a US state regulator blocked its initial US$2.2 billion ($2.87 billion) bid.
The new proposal offers US$20 million in customer refunds, a commitment to spend at least US$380 million to bolster existing operations in Montana, and slash the debt component of the purchase by half.
