Natural gas and electricity assets company APA Group has kept alive its $17 billion for AusNet Services, despite not being given access to AusNet’s data room.
It had been expected that the bid would explode, but it is on the table until the Takeovers Panel reviews its application.
It has asked the panel to either extinguish AusNet’s eight-week exclusivity agreement with rival suitor Brookfield, or insert a fiduciary out clause into the agreement.
As it stands, AusNet has been content with its decision to sign the eight-week exclusivity agreement with Brookfield, blocking it from talking to APA Group. No doubt because it scored a revised bid anyway.
Elsewhere, fund managers are being given an inside look at SiteMinder this week ahead of its coming IPO and we reveal the bankers’ eight-point pitch.
In its presentation to US bond markets, NBN Co has revealed its privatisation plans.
Black Nova is raising $20 million for its first venture capital fund and Pacific Equity Partners has teamed up with NZX-listed Green Cross Health to try to buy New Zealand’s largest primary healthcare group, Tamaki Health.
