Brookfield Makes $7 Billion Bid for Australian Power Company
- AusNet Services says will enter negotiations on potential deal
- Target has informed major holders State Grid, Singapore Power
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AusNet Services Ltd., which owns Australian power transmission and distribution assets, will enter takeover talks after Brookfield Asset Management Inc. made an approach valuing the company at about A$9.6 billion ($7 billion).
Melbourne-based AusNet, which serves about 1.5 million customers in southeastern Victoria state, has contacted its two largest holders, Singapore Power International Pte and State Grid Corp. of China, the company said Monday in a statement. AusNet shares surged as much as 22% to A$2.42 in Sydney.