Spain's Iberdrola <IBE.MC> said on Friday it received further acceptances from shareholders for its takeover of Australian wind and solar firm Infigen Energy <IFN.AX>, meeting a condition that would see the offer price increase by 3 cents.
With the increase announced earlier this week conditional on acceptances of a further 13%, Infigen shareholders will now receive A$0.92 per share from the Spanish utility firm hoping to finalise the deal after a month-long battle with Philippine conglomerate Ayala Corp <AC.PS>.
The Spanish firm's twice-improve improved offer with the backing of Infigen now stands at A$893.1 million ($634.28 million) and comes around a week after Ayala said it would not improve its bid.
Iberdrola said it now holds 38.06% of Infigen following the 13.5% of acceptances received on Thursday.
($1 = 1.4081 Australian dollars)
(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Muralikumar Anantharaman)
