Duet swallows poison pill to deter Spark

I shouldn’t be surprised. Only last week I responded to an Intelligent Investor member that pipeline and energy distribution company DUET Group (ASX: DUE) was a potential takeover target. Spark Infrastructure (ASX: SKI) has been stalking the company since acquiring a 14% stake in May 2014.Instead, today DUET announced that it has made a $1.9bn takeover bid for Energy Developments (ASX: ENE), an operator of remote and green energy power generation projects. While DUET has attempted to rationalise the transaction, it looks suspiciously like a defensive manoeuvre.There aren’t many ‘synergies’ in this deal. DUET’s takeover of Energy Developments simply makes...

I shouldn’t be surprised. Only last week I responded to an Intelligent Investor member that pipeline and energy distribution company DUET Group (ASX: DUE) was a potential takeover target. Spark Infrastructure (ASX: SKI) has been stalking the company since acquiring a 14% stake in May 2014.

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