Toll and Patrick try again

Toll Holdings increases its bid for the Australian stevedore to A$5.27 billion with a cash kicker for majority control.

Logistics company, Toll Holdings remains determined to finalize the acquisition of Patrick Corporation that it began eight months ago with a new offer that values Patrick at A$5.27 billion.

The cash and scrip offer equal to A$7.52 per Patrick share also comes with the promise of a further 20 cents in cash if Toll succeeds in acquiring at least 90% of the company, and another 10 cents if Patrick has not exercised its option to acquire FCL Interstate Transport.


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