takeover tremors lift connecteast

Anthony Hughes
82 words
9 May 2007
Australian Financial Review (Abstracts)
18
English
Copyright 2007 Media Monitors Australia Pty Ltd. All Rights Reserved

Transurban's takeover of Sydney Road Group has been completed and it looks likely that ConnectEast will begin tolling operations sooner than expected. Yesterday, Merrill Lynch analyst Matt Spence altered his valuation of ConnectEast from $1.45 to $1.67 a share. The increased valuation was in response to an earlier than expected tolling and an expected 15 per cent initial lower traffic volume.

ConnectEast is currently valued at $1.1 billion.