IN BRIEF: Rival bidders for Augean enter compensation agreements - NewsBreak

Augean PLC - Walton, England-based hazardous waste treatment and disposal company - Rival bidders Eleia Ltd and Antwerp Management Ltd each enter compensation agreements with a concert party of Augean shareholders representing a 23.9% stake. The concert party includes London-listed North Atlantic Smaller Cos Investment Trust PLC and Oryx International Growth Fund Ltd. As part of the auction procedure set out by the UK Takeover Panel, the NASCIT and Oryx have agreed to compensate the losing bidder for its costs. The auction starts on Thursday. Eleia, formed by investment funds managed by London-based Ancala Partners LLP and Toronto-headquartered Fiera Infrastructure Inc, offered 325 pence per Augean share. This was trumped by Antwerp Management, a vehicle of Morgan Stanley Infrastructure Inc, with a 340p offer, valuing the AIM listing at GBP357 million.