The long-running contested bidding for control of Hastings Diversified has intensified, with the rival bidder to APA Holdings putting its bid on the table before the competition watchdog has decided whether the APA bid can proceed. Independent directors of Hastings Diversified have received a copy of the offer from Pipeline Partners but are yet to release it to shareholders.
Dr Joe Reich, a 3 per cent shareholder and director of ophthalmic care company Vision Eye Institute, says the right of doctors to decide on the treatment of their patients must be retained in any potential takeover by medical services company Primary Health Care. Vision shares soared 5.5 per cent to 38? yesterday on expectations Primary will again add to its 19.77 per cent stake.
New South Wales has a "plain awful" reputation for infrastructure delivery, the head of Infrastructure NSW, Nick Greiner, said yesterday. Mr Greiner had a swipe at former Labor premier Bob Carr for being "politically courageous or politically cowardly" for not privatising the state's power sector, which has cost taxpayers tens of billions of dollars.
Australia should encourage more Chinese investment in domestic industries and reap the benefits of its immense capital reserves, Department of Foreign Affairs and Trade secretary Dennis Richardson has told a conference. "Far from there being too much Chinese investment in Australia, there is not enough."