APA in merger proposal for Envestra

Gas infrastructure giant's all-share offer values target at $1.98bn, would see it pick up 1.2 million customers.

Australian gas infrastructure giant APA Group has made merger proposal for gas distributor Envestra Ltd that values the target at $1.98 billion and would deliver it 1.2 million gas customers.

APA, which is Envestra's largest shareholder with a 33% stake, said it had put an all-share merger offer to Envestra's board.

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