APA shares plunge after Canberra blocks CKI buy bid

Original article by Matt Chambers, Perry Williams
The Australian – Page: Online : 9-Nov-18

Shares in APA Group fell by 10 per cent on 8 November after Treasurer Josh Frydenberg indicated his "preliminary view" on Hong Kong-listed CK Infrastructure’s $13 billion bid for the pipeline operator. Frydenberg stated he did not consider the bid to be in the "national interest"; he is expected to make his final decision in around two weeks. Superannuation fund infrastructure investor IFM is seen as the local entity most likely to make an approach to APA with a bid if Frydenberg’s views remain unchanged; any Australian-based bid for APA is expected to be lower than CKI’s

CORPORATES
APA GROUP – ASX APA, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, AUSTRALIA. DEPT OF THE TREASURY, IFM INVESTORS PTY LTD, WOOD MACKENZIE, COOPER ENERGY LIMITED – ASX COE, DUET GROUP, MOODY’S ANALYTICS AUSTRALIA PTY LTD

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