Takeover target AusNet Services and suitor APA Group have granted each other due diligence as tensions rise between the pair over a $17 billion hostile takeover bid and questions arise over whether China will sell its AusNet stake.

ASX-listed AusNet was forced to open up its books after the Takeovers Panel blew up its original decision to grant eight weeks of exclusive due diligence to Brookfield, despite the higher cash and scrip offer from APA.