Ausnet Services (AST)

AST 19.19%: electricity & gas grid operator Ausnet Services was the latest ASX listed company to be in the sights of international money. Canada’s Brookfield is offering $2.50/sh in cash for the Victorian based company, a 26% premium to last close, valuing Ausnet at over $17b when including their debt. The bidders have been granted exclusive due diligence in a sign Ausnet would be interested sellers. Around 50% of AST is already owned by foreign parties including Singapore Power & State Grid of China so it’s unlikely FIRB will be all that concerned. Another big deal highlights the amount of money looking for quality assets globally, plenty of corporate interest around at the moment. Shares closed at a ~6% discount to the bid today.

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Ausnet (AST)

LAST UPDATED 20/09/2021 17:24

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Ausnet (AST)

LAST UPDATED 20/09/2021 17:24