not vested
Victor Li leads CKI consortium bid for Australian gas pipelines operatorA consortium made up of CK Asset Holdings (1113), CK Infrastructure Holdings (1038) and Power Assets Holdings (0006) confirmed today it submitted a bid to acquire Australia's APA Group.
The APA Group operates gas pipelines and is listed on the Australian Securities Exchange.
APA says it operates and maintain natural gas pipeline networks connecting 1.3 million Australian homes and businesses. And it owns or have interests in gas storage facilities, gas-fired power stations and wind farms.
APA owns and/or manages and operates a portfolio of energy assets in excess of A$20 billion and deliver half of Australia's natural gas usage.
The consortium's bid at A$11 a share, values the APA Group at A$12.97 billion. The company's stapled securities last traded at A$8.27 and the offer is 33 percent above the closing price yesterday.
APA's largest shareholder UniSuper, has a 15 percent interest in the company.
Based on the indicative price of A$110 cash per stapled security, the APA board considers that it is in the best interests of APA’s security holders to engage further with the consortium, the company said.
Source: The Standard
http://www.thestandard.com.hk/breaking- ... 8893&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"