This will be in the paper tomorrow: 'The Australian' (online) tonight reporrs:
"AusNet is still weighing the merits of APA’s higher bid and has left the door open for the pair to hold talks, but only after Brookfield’s due diligence process ends.
As things stand, APA argues AusNet cannot respond to its bid, which hinders the takeover battle “taking place in an efficient, competitive and informed market”....
...Major AusNet investor Martin Currie Australia attacked the company’s decision and said it was open to the APA bid, which it regards as superior“We are massively surprised that you give exclusive due diligence to one party when there’s an auction going on. Why would you lock out APA for eight weeks?” asked Reece Birtles from Martin Currie Australia, which also owns APA shares.
“Why they needed to jump to that point is unclear and then I would have thought, especially subsequently now that APA’s offer is out, it’s quite clear that it’s superior.”
APA’s offer for AusNet is split between $1.82 a share in cash and 0.0878 APA shares for each AusNet share. That structure means the value of APA’s offer will change depending on its share price.
APA’s shares rose 2.1 per cent to $8.73 on Thursday, while AusNet shares increased 2.4 per cent to $2.58.
AusNet Services is 32.3 per cent-owned by Singapore Power, 19.9 per cent-owned by State Grid of China, and about 48 per cent publicly owned."
This will be in the paper tomorrow: 'The Australian' (online)...
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Last
$7.52 |
Change
-0.010(0.13%) |
Mkt cap ! $9.650B | |||
| Open | High | Low | Value | Volume |
| $7.51 | $7.56 | $7.49 | $17.66M | 2.348M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 24813 | $7.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.56 | 40132 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| APA (ASX) Chart |