A premium test for Envestra's independent thinkers

A nil-premium merger can be a win for shareholders but the synergies between APA Group and Envestra are not that compelling. Envestra's independent directors have a big call to make.

You don’t see too many nil-premium mergers, but effectively that is what APA Group’s Mick McCormack has proposed with his all-scrip $1.98 billion proposal to Envestra directors and shareholders.


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