Macquarie Group Ltd. is reported to be interested in acquiring Redflex Holdings Ltd., a traffic camera group. The information regarding the A$275 million proposal was disclosed by Redflex on Monday.

According to Redflex, Macquarie said it will pay A$2.50 a share to the Company. The proposal was made after the trade shut down on Tuesday.

However, Redflex has not yet reached a decision regarding the proposal. The Company has also urged the shareholders to wait for a while before the Company takes a decision on the current issue. The value of the Company's stock has increased by 2.2%.

Strong place is occupied by the traffic cameras industry in Australia. The New South Wales State Government has disclosed that it is keen on developing its speeding camera program in the long run.

Redflex is concerned with developing hardware and traffic management systems. Also red-light and speed photo enforcement systems are operated by the Company.

In another development, Macquarie Group and its subsidiary Companies revealed that they had a stake of 10.7% in Redflex.

In February 2008, Macquarie Special Situations Master Fund was formed. This organization is a part of the group's new fund channel.