Aquila European Renewables trust (AERI) has stopped its plans to merge with other infrastructure investment trusts after failing to gather shareholder's support.
The fund received three proposals from other vehicles, including Octopus Renewables Infrastructure Trust (ORIT), ranging from a "small premium" to a discount to the AERI's share price. However, the board decided to drop plans for a Section 110 combination, it revealed in a stock exchange notice today (10 May) after it failed to secure enough backing for a potential merger from shareholders. Octopus Renewables trust makes bid for Aquila European Renewables The trust needed shareholders representing more than 25% of total voting rights – a level sufficient to block the proposals – to...
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