ACCC on warpath over CK Group's $13b bid for APA
The competition watchdog has promised an all-encompassing review of CK Group's $13 billion takeover bid of gas pipeline giant APA Group, signalling the Hong Kong powerhouse's offer on asset sales may not be enough to win over a regulator that has zeroed in on runaway gas prices.
The impact on upstream gas supply and downstream sales markets and on competition for construction of new pipelines will all be examined in addition to the effect on competition in gas transportation, a spokeswoman for Australian Competition and Consumer Commission chairman Rod Sims said.
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