Ann: CKI Proposal APA Grants Due Diligence, page-43

Two strikes here.
1. "Do you think they will dig up the pipes" -- No, but those pipes have technology that can be manipulated remotely by unfriendly powers if they have a chance.

2. "Aussies simply don't properly value 'unsexy' infrastructure" -- Actually, the opposite. One broker review identified APA as one of the highest priced infrastructure stocks in the world, suggesting that there is considerable domestic (and global) demand for APA. And OZ super funds actually own a sizable chunk of APA (UniSuper alone is has about 15% of the stock). Super funds might make a counteroffer, but why buy at $11 when you own a good chunk at much less?