UBS anticipates a very high bar for FIRB approval of the non-binding indicative cash offer of $2.50 (pre-interim div) for AusNet Services from Brookfield Asset Management.
Should the offer and the current takeover proposal for Spark Infrastructure Group ((SKI)) be approved, 100% of Victoria’s electricity distribution and transmission infrastructure would be foreign owned. The Neutral rating and $1.80 target price are unchanged.
Target price is $1.80.Current Price is $2.59. Difference: ($0.79) – (brackets indicate current price is over target). If AST meets the UBS target it will return approximately -44% (excluding dividends, fees and charges – negative figures indicate an expected loss).