Duet's Takeover Looks to be a Done Deal
Duet is set to be taken over after the Foreign Investment Review Board and the Federal Treasurer approved the takeover by Hong Kong-based Cheung Kong Infrastructure and its related entities. Shareholders also overwhelmingly approved the takeover, with 99.7% of votes in favour, though this was expected. We increase our fair value estimate to the takeover price of AUD 3.03 per security, as we believe the takeover is now almost certain to proceed.We believe investors are receiving a generous pric...
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