Company news: CKI, AGL, Strike and more

PPO News provides you with a wrap of this week’s company news in the Australian oil and gas industry.

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.

CKI has also informed APA that it has had discussions with and provided information to both the Foreign Investments Review Board (FIRB) and the Australian Competition and Consumer Commission (ACCC).

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