Sept 23 (Reuters) - Investment manager Ancala Partners outbid Morgan Stanley Infrastructure (MSI) in an auction to buy UK-based waste management firm Augean for 390 million pounds ($532 million), Britain’s takeover regulator said on Thursday.
London-based Ancala’s sweetened 372 pence-per-share offer topped MSI’s bid of 361 pence per share on the first day of the auction on Wednesday.
Ancala said Augean backed its offer and would recommend it to its shareholders. ($1 = 0.7334 pounds)
Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Subhranshu Sahu