Reuters logo
Hong Kong CKI makes $5.4 bln bid for Australian energy Duet Group
December 4, 2016 / 9:51 PM / 10 months ago

Hong Kong CKI makes $5.4 bln bid for Australian energy Duet Group

SYDNEY, Dec 5 (Reuters) - Hong Kong-listed Cheung Kong Infrastructure Holdings Ltd has made an A$7.3 billion ($5.44 billion) bid for Australian energy infrastructure owner Duet Group, Duet said on Monday.

Duet said it had received an “an unsolicited, indicative, incomplete, non-binding and conditional proposal,” offering A$3 per share in cash.

The offer represents a 27.7 percent premium to Duet’s Friday closing price of A$2.35.

$1 = 1.3428 Australian dollars Reporting by Tom Westbrook and Cecile Lefort, editing by Larry King

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below