By Giulia Petroni

Iberdrola SA said Wednesday that it increased its offer in a takeover bid for Infigen Energy Ltd and Infigen Energy RE Ltd.

The Spanish utility company said it would offer 92 Australian cents ($0.66) per stapled security to acquire Infigen, up from AUD0.89 previously.

The increase is conditional on Iberdrola Renewables Australia receiving acceptances of its offer for at least a further 13% of Infigen's stapled securities by July 30.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 22, 2020 02:20 ET (06:20 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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