Australia’s AusNet Services has agreed to a binding AUD10.2bn (US$7.7bn) takeover offer submitted by the Canadian infrastructure investor Brookfield Asset Management, entering into a Scheme Implementation Deed (SID), under the terms of which AusNet shareholders will receive a 34% premium over AusNet's share prices before the offer (17 September 2021). However, the SID allows AusNet to consider any superior proposal that rival bidder APA Group may submit. APA had also made a non-binding buyout proposal in September 2021.
AusNet owns and operates the 6,850 km-long Victorian electricity transmission network and one of three gas distribution networks in Victoria (Australia). The company distributes energy to 768,000 electricity customers and 753,000 gas customers across Victoria. AusNet Services is currently owned by Singapore Power (32.3%) and State Grid Corporation of China (19.9%), with the remainder listed on the Australian Securities Exchange (ASX).