The ACCC will not oppose the proposed acquisition by the CKI consortium. The main regulatory approval that is required, however, is from the Foreign Investment Review Board.
The decision by the ACCC illustrates that the proposed acquisition will not affect the current competitive dynamic on the east coast gas market, UBS suggests. Neutral rating and $10 target maintained.
Target price is $10.00.Current Price is $9.68. Difference: $0.32 – (brackets indicate current price is over target). If APA meets the UBS target it will return approximately 3% (excluding dividends, fees and charges – negative figures indicate an expected loss).