AusNet Services receives takeover bid

AusNet Services has received a takeover offer from Brookfield Asset Management worth $2.50 a share.

The offer values the company at $9.6 billion and will be reduced to the extent that AusNet pays or declares a dividend to its shareholders prior to the implementation of the proposed transaction.

The indicative proposal follows the receipt of an indicative, non-binding and conditional proposal from Brookfield on August 30 at an indicative price of $2.351 cash and a subsequent revised proposal at an indicative price of $2.451 cash per AusNet share.

AusNet’s board considers that it is in the best interests of AusNet’s shareholders to engage further with Brookfield on the indicative proposal.

Accordingly, AusNet has decided to provide Brookfield with the opportunity to conduct due diligence on an exclusive basis to enable it to put forward a binding offer.

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