Envestra shares in trading halt

Shares in pipeline operator Envestra (ENV) have been placed in a trading halt, pending the release of announcement about a rival takeover offer.

Gas infrastructure business APA Group has made a takeover offer that values APA at $2.2 billion, but Envestra said it is set to make an announcement about receiving an alternative proposal.

Envestra will remain in a halt until the start of trade on May 12 or when the announcement is released, whichever is earlier.