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Australia's Transurban rejects Canada funds' bid

Wed Nov 4, 2009 7:25pm EST

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MELBOURNE, Nov 5 (Reuters) - Australian toll-road operator Transurban Group (TCL.AX) has rejected a takeover approach from two Canadian pension funds but said it would be open to talks on bona fide proposals.

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It said the offer came from the Canada Pension Plan Investment Board and the Ontario Teachers Pension Plan Board.

Transurban made the announcement after media speculation that Ontario Teachers Pension Plan Board was planning a A$6 billion ($5.5 billion) buyout of Transurban. (Reporting by Sonali Paul; Editing by Jonathan Standing)

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