June 17 (Reuters) - Infigen Energy IFN.AX on Wednesday
recommended a A$827.5 million ($569.1 million) buyout bid from
Spain's Iberdrola IBE.MC to its shareholders, and urged them
to reject an earlier offer from Philippine conglomerate Ayala
Corp AC.PS .
Iberdrola will pay A$0.86 a share for the Australian
renewables company, a 7.5% premium to Ayala's offer price and an
almost 5% premium to the stock's Tuesday close. = 1.4541 Australian dollars)