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APT earlier this month gained a direct majority stake of 50.06% and a relevant interest of 56.51% in GasNet as a result of its takeover offer for the Victorian gas transmission operator.
The company today said it had extended the off-market offer, of $3.10 per security, to November 1. It had been due to close today.
APT runs 8000km of transmission pipeline in Australia, accounting for almost a quarter of the nation’s grid. The GasNet acquisition would add a further 2000km of pipeline.
