Indiana seals the deal, and pgl's reputation is further shredded (if possible):
By noon today state bank accounts bulged with $3.8 billion for the lease of the Indiana Toll Road to a foreign partnership.
The money flowed in a series of wire transfers and state officials signed the paperwork completing the deal.
The state, meanwhile, disclosed that the lowest bid for the toll road had been submitted by a U.S. firm, the investment bank Morgan Stanley, which was ready to pay $1.9 billion for the right to lease the Northern Indiana highway.
....The other losing bids came from an Australian consortium that offered $2.84 billion and a Spanish company that was ready to plunk down $2.5 billion.
In other words Macquarie-Cintra overpaid by about one billion dollars.