0145 GMT - Citi doesn't think private-equity firm Lone Star will get a clear run at Sino Gas & Energy despite yesterday's A$530 million($401 million) deal. The investment bank thinks a A$4.5 million breakup fee isn't likely to deter Chinese firms already familiar with Sino Gas' assets or able to better navigate operating risks there. "We think it makes sense for JV partner [China New Energy Mining] or an integrated gas firm such as ENN to counteroffer," says Citi, whose stock target has been A$0.27. The Lone Start deal would pay A$0.25. Shares are up 3.2% at A$0.24.
SEH Price at posting:
24.3¢ Sentiment: Hold Disclosure: Held
