IFM , which is competing with Spanish infrastructure company Acciona for the Australian wind farm and hydroelectric company, was to have ended its offer on 10 June.

Pacific Hydro's independent directors - those not appointed by IFM , which was already a major shareholder in Pac Hydro - have unanimously recommended that shareholders accept IFM's offer.

Acciona has offered $4.90 cash per share for the renewable energy company.