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  1. FNN News
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    09/05/14
    09:38
    Post #: 13343858
    .


    Natural gas distributor Envestra Limited (ASX:ENV) has received a $2.37 billion takeover bid from Li Ka-shing’s, Cheung Kong company.


     


    The company already owns 17.5 per cent of Envestra and wants to buy the remainder for $1.32 per share.


     


    The offer is a premium on Envestra’s last trading price of $1.13 and it trumps a recent $2 billion offer made by APA.


     


    The takeover is conditional on approval from Australia’s Foreign Investment Review Board.


     


    Envestra reported a net profit of $87.1 million in the 2014 financial year. 

    ENV Price at posting: $1.13 Sentiment: None Disclosure: Held
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