Business Services Industry
Roll-over a likely option for gas investors.
Australasian Business Intelligence, April, 2003
Apr 06, 2003 (The Australian Financial Review - ABIX via COMTEX)
An announcement is expected on 7 April 2003 on a complex takeover bid for United Energy (UE) in Australia. The AMP Defender Fund and Perth-based AlintaGas plan to acquire UE and, eventually, other assets of the financially troubled US group, Aquila. UE shareholders are likely to be given an option of rolling over their stake into AMP Defender. As part of the deal, UE would be delisted from the Australian Stock Exchange under a scheme of arrangement valuing the company at $A3.15 per share. According to Merrill Lynch analyst, Stuart Smith, the offer seems fair, given UE's current share price of $A3.12.
Publication Date: 7 April 2003
UNITED ENERGY LIMITED - ASX UEL:
AQUILA...
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