Ferrovial’s new bid

SYDNEY: Australian services provider Broadspectrum on Wednesday rejected a sweetened final takeover offer by Spanish construction giant Ferrovial, saying it continued to undervalue the firm. The Madrid-listed Ferrovial, which specialises in infrastructure and construction, boosted its bid price by 11 per cent to 1.50 Australian dollars a share, valuing Broadspectrum at 769 million Australian dollars ($580 million).