Envestra backs Cheung Kong bid

Board recommends $2.37bn takeover offer from Hong Kong conglomerate.

Gas distributor Envestra (ENV) has backed a $2.37 billion takeover bid from Hong Kong conglomerate Cheung Kong, saying the offer is attractive to shareholders.

The suitor, owned by Asia's richest man Li Ka-shing, lobbed a sweetened all-cash offer of $1.32 per share this month, which was a 17 per cent premium to Envestra's last trading price before the bid.


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

Related Articles