Infigen has unanimously recommended an all cash takeover offer from Iberdrola at 86 cents per security. 

Iberdrola is the world's largest wind generator by output and one of the world's largest electric utilities by market capitalisation. Iberdrola has major market positions in Spain, the UK, Europe, the US, Brazil and Mexico, serving energy to approximately 100m people worldwide.

The Board unanimously recommends investors accept the Iberdrola offer. The Board also unanimously recommends investors reject the UAC offer which is at a lower price and with conditions that may never be capable of being satisfied.

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