env-apa tied

APA and ENV have finally come up parallel to the .1919 acquisition conversion rate. ENV previously lagged (i.e. discount to APA conversion share price).

The market hasn't factored in the extra ENV dividend, but might not if due diligence and ENV debt agreements aren't put to bed before the ENV ex-div date. Also, ASX isn't an efficient market (vs. US/UK, etc), so we might see more APA-ENV divergence occur at various times.

Always makes interesting watching for otherwise boring (but solid) investments.

FYI, I own both APA and ENV shares. This post has been cross-posted to the APA site.