Henderson has fought back against Allianz in its battle to win control of John Laing with an improved bid worth just more than £1bn for the roads, schools and hospitals builder.
The raised offer adds further froth to the valuation of private finance initiative assets which are proving popular among investors looking for high-quality earnings, reliable cash flows and protection from interest rates.
References: Financial Times 11/11/06 page 16, Daily Telegraph 11/11/06 page 32, The Times Business 11/11/06 page 52, The Guardian 11/11/06 page 39
