Duet Recommends Formal Bid; FVE Lifted to AUD 2.80
Following due diligence, Cheung Kong Infrastructure, or CKI, and its related entities made a formal takeover offer for Duet Group at AUD 3.03 per security. Duet directors recommend the takeover, subject to approval from an independent expert, which is highly likely in our opinion. The takeover has received approval from the Australian Competition and Consumer Commission, with the main hurdle remaining Foreign Investment Review Board, or FIRB, approval. We believe the deal is now roughly 75% like...
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