23th dec - halt, page-8

AGL Energy has requested a trading halt on its shares amid speculation it is about to announce a bid for rival Sydney Gas.

“The reason for the trading halt is that AGL is in discussion concerning a possible material transaction,” it said in a statement to the Australian Securities Exchange today.

AGL said it expected to make the announcement before the start of trading tomorrow.

Earlier today, Sydney Gas had requested a trading halt on its shares pending an announcement about a takeover bid.

“The trading halt is requested pending an announcement by the company in relation to a takeover bid,” a Sydney Gas statement said.

Sydney Gas shares last traded at 27.5c and AGL last traded at $15.45.