Companies & Finance

CK Infrastructure Holdings makes takeover bid for APA Group

Hong Kong’s CK Infrastructure Holdings has made a $9.8 billion offer to acquire Australian gas pipeline operator APA Group
By Staff reporter 13 June 2018 0 31285

Hong Kong’s CK Infrastructure Holdings has made a A$12.98 billion (US$9.8 billion) offer to acquire Australian gas pipeline operator APA Group, APA said on Wednesday.

CK Infrastructure, in partnership with CK Asset Holdings and Power Assets Holdings, offered A$11 per share. This represented a 33% premium to APA’s previous closing price.

“Based on the indicative price of A$11.00 cash per stapled security, the APA board considers that it is in the best interests of APA’s securityholders to engage further with the consortium,” the Australian...