Transurban Investors May Scrap Plans for a New Bid, Financial Review Says

Transurban Group’s largest shareholders may scrap plans for a revised takeover offer after the toll road operator announced an agreement to buy Sydney’s Lane Cove Tunnel, the Australian Financial Review reported. CP2 Ltd., which owns 14.5 percent of Transurban, recently teamed with the Canadian Pension Plan Investment Board and the Ontario Teachers’ Pension Plan and had planned a cash offer, the newspaper said, citing CP2 Managing Director Peter Doherty.

To contact the reporter on this story: Robert Fenner in Melbourne at rfenner@bloomberg.net

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