Poison pill in the pipeline for Alinta as APT bids for GasNet.

Australasian Business Intelligence,  August, 2006  

Tags: Alinta, poison pill

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Byline: Nigel Wilson

Aug 22, 2006 (The Australian - ABIX via COMTEX) -- A takeover bid by Australian Pipeline Trust (APT) could cause problems for gas company, Alinta. APT offered $A452 million cash, or $A3.10 a unit, for Victorian gas transmission operator, GasNet. It had previously made a joint scrip bid with Babcock & Brown Infrastructure Group, but GasNet's board recommended a rival cash bid of $A2.88 a unit from Colonial First State. AGL, which owns 30 per cent of APT, is in the process of merging with Alinta. The bid will increase Alinta's debt, while the ownership ...

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