The Treasurer has blocked the CKI proposed takeover bid for APA. (2 days ago)
…. This has to be a materially useful development.
What is VERY interesting is the article below reminds us that the bid has been going for 6 months (I didn't realize how time has been flying). But now it appears a defunct duck. During the takeover, APA's capacity to make plans and discuss future projects
must have been either very limited, or not possible at all. We can now add this difficulty (in the second half of the year), to the first half of the year when
Santos was tied up for 6 months with its own takeover activity limiting
its ability to talk to anyone. These are very likely amongst major parties relevant to Blue.
But now it would seem for the first time in a year the air is much clearer with pathways easier for talks between different parties.
Make of it what you will, but for mine, this is largely behind the difficulties experienced in the last 12 months by Blue management putting together a GSA... And the share price has been absurdly punished all the while.
Kip
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