German builder Hochtief launched a bid earlier this week to raise its 58.77% stake in Leighton to 74.23% for A$1.15 billion (US$1.04 billion).
On Thursday Leighton revealed Hochtief had increased its cash offer to A$1.25 billion, offering A$22.50 per share for three out of eight shares, up from its previous offer of A$22.15 per share for three out of eight shares.
Leighton
