CKI launches APA bid

A CK Infrastructure Holdings-led consortium (CKI) has lodged a $13 billion takeover bid for APA Group, owner and operator of some of Australia’s key infrastructure.

The bid values APA shares at $11 per share and permits a distribution not exceeding $0.24 per stapled security payable in respect to the six months to 30 June 2018.

At this stage, the APA Board makes no recommendation in response to the proposal, with shareholders advised to take no action.

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