By Joyce Moullakis and Thom Rose

Oct. 23 (Bloomberg) -- Macquarie Bank Ltd., Australia's largest securities firm, said one of its European infrastructure funds made an unsolicited offer for Techem AG, a German company that reads utility meters, in a bid that valued Techem at 1.1 billion euros ($1.4 billion).

Macquarie European Infrastructure Fund II today offered 44 euros a share, 5 percent more than Techem's close last week. Sydney-based Macquarie Bank and the fund already own 17 percent of Eschborn, Germany-based Techem, the fund said.

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Posted by pichu at October 23, 2006 11:51 PM