APA may not be allowed by ACCC to take over GAS due to ALN / AGL deal.
BBI probably not able to bid up much more.
Market value seems to be around $2.60, so cant really see this take over being a goer unless APA go it alone and bid up the price further, but then will have to deal with ACCC.
l think they saw the sp of GAS at $2.20 and thought they could get it for a steal, but the company is sound, has good assets, so why would they sell ?
