Envestra MD criticises APA bid

Ian Little questions APA bid's value, debt refinancing ability.

Envestra Ltd managing director Ian Little has criticised APA Group's $2 billion takeover bid for the gas distribution business, arguing it does not offer good value for Envestra shareholders, according to The Australian Financial Review.

APA is already Envestra's largest shareholder, holding a 33% stake. It announced on Tuesday an all-share, non-binding merger offer to Envestra's board.

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