Approval by Australia's Foreign Investment Review Board appears to be the main hurdle to energy-infrastructure operator Duet (DUE.AU) planned A$7.3B buyout given anticipated shareholder support, says RBC. It sees FIRB giving its blessing as well given Cheung Kong Infrastructure's (1038.HK) experience with its failed bids for electricity-network operator Ausgrid and the less-sensitive nature of Duet's assets. The Cheung Kong consortium has offered A$3/share in cash, and shareholders will also receive a A$0.03/share dividend from Duet. It's up 5.4% at A$2.93, hitting fresh 8 1/2-year highs. ([email protected]; @RobbMStewart)
DUE Price at posting:
$2.93 Sentiment: Hold Disclosure: Held
