AusRAIL, Market Sectors

Toll increases offer for Tranz Rail

<p>Toll Holdings has increased its takeover offer for Tranz Rail by NZ20 cents to NZ95 cents a share.</p> <p>Toll managing director Paul Little said the company has also removed confirmation of Tranz Rail results and forecasts as conditions of the bid.</p> <p>"We also want to make it clear that Toll remains willing to work in partnership with the government to find a mutual way forward," Mr Little said.</p> <p>"Our intention remains unchanged: Toll is seeking to own and operate Tranz Rail on a long-term basis, whether that includes the tracks or not."</p> <p>Shareholders should receive the offer within 14 days.</p> <p>Tranz Rail shares were trading at NZ90 cents at midday (AEST) today (Monday, June 16). </p> <br />