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Broadspectrum Investor Allan Gray Yet to Decide on Ferrovial Bid
By Brett Foley
(Bloomberg) -- Allan Gray, Broadspectrum’s biggest shareholder, seeking detail from co. on impact of Papua New Guinea govt decision to close Manus Island refugee processing facility, Chief Investment Officer Simon Mawhinney says by phone.

• OTE: Broadspectrum operates the Manus Island facility
• “What Australia might do on the back of the closure, and the impact of that on Broadspectrum makes things quite uncertain at this stage”: Mawhinney
• Allan Gray meeting Broadspectrum mgmt to seek information on PNG decision, delay in recovery in performance of its infrastructure business: Mawhinney
• “It is a live discussion, and we don’t have to make a decision today”: Mawhinney
• Allan Gray will make decision on Ferrovial bid by May 2 deadline: Mawhinney
• Ferrovial said in ASX filing today it has acceptances from 23.74% of Broadspectrum shareholders, up from 16.14% yday
• NOTE: Mawhinney said April 4 Ferrovial bid “significantly undervalues” co.; did not plan to accept offer
• NOTE: Allan Gray holds 18.7% of Broadspectrum: Bloomberg data
• NOTE: PNG to Close Refugee Camp in Blow to Australia

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