(Adds deal details, response from parties)
Sept 23 (Reuters) - Australia's APA Group on Thursday approached the government's Takeovers Panel to complain against AusNet Services sticking to an agreement with Canada's Brookfield Asset Management BAMa.TO despite the pipeline company raising its bid.
APA (APA) made an application of unacceptable circumstances to the panel, two days after it raised its offer to A$9.96 billion ($7.22 billion) for the energy infrastructure firm (AST) .
The company said it has been unjustly locked out from an opportunity to participate in acquisition for eight weeks and sought orders from the panel to terminate the exclusive arrangement between AusNet and Brookfield.
AusNet, which owns and operates electricity transmission network in Victoria, had rejected a previously undisclosed bid of A$2.32 per share from APA and subsequently granted exclusive due diligence to Brookfield.
AusNet declined to comment as the matter is under investigation, while Brookfield did not respond to a request for comment.
News: APA UPDATE 1-Australia's APA Group complains against AusNet Services in takeover dispute
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
$8.60 |
Change
0.060(0.70%) |
Mkt cap ! $11.21B | |||
| Open | High | Low | Value | Volume |
| $8.54 | $8.62 | $8.54 | $10.82M | 1.259M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 3008 | $8.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.60 | 5000 | 1 |
View Market Depth
| Last trade - 16.10pm 08/08/2025 (20 minute delay) ? |
| APA (ASX) Chart |