All posts by Nathan Lead
Senior Analyst
Sectors Covered: Infrastructure, Utilities
By Nathan Lead
15 October 2021, 9:30 AM
We await progress on APA Group's (ASX:APA) takeover proposal for AusNet Services (ASX:AST), with the next step being the Takeovers Panel’s ruling re: APA’s access to due diligence.
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By Nathan Lead
15 October 2021, 9:00 AM
We update a number of modelling assumptions. The resulting forecasts are used in our APA/AST merger modelling.
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By Nathan Lead
28 September 2021, 8:00 AM
Transurban Group (ASX:TCL) has increased its exposure to the Sydney region by leading the acquisition of the remaining 49% of WestConnex.
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By Nathan Lead
22 September 2021, 8:15 AM
AusNet Services (ASX:AST) has surprised with an announcement of a takeover bid from Brookfield. This continues the intense M&A activity in the ASX-listed infrastructure space following bids for Sydney Airport and Spark Infrastructure.
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By Nathan Lead
13 September 2021, 10:00 AM
Sydney Airport (ASX:SYD) has received a revised proposal from the Sydney Aviation Alliance. SYD intends to grant the consortium the opportunity to undertake due diligence.
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By Nathan Lead
13 September 2021, 9:00 AM
Aurizon Holdings' (ASX:AZJ) revenue protections and the essential and long-dated nature of its assets make its earnings less correlated with the business cycle, providing a defensive element to a portfolio. Also, its strong cashflows and debt capacity give it flexibility to pursue growth investment and/or undertake capital management initiatives.
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By Nathan Lead
27 August 2021, 7:00 AM
With toll revenues already known, there was no major surprises in the 1H21 result.
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By Nathan Lead
26 August 2021, 12:30 PM
APA Group's (ASX:APA) FY21 saw mild declines in key earning and cashflow items, albeit supported by one-off items.
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By Nathan Lead
26 August 2021, 9:30 AM
Dalrymple Bay Infrastructure (ASX:DBI) 1H21 earnings were slightly up, highlighting defensive earnings in the context of 10% throughput decline.
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By Nathan Lead
23 August 2021, 9:30 AM
The 1H21 result was evidence of an airport in hibernation, with management doing a good job of managing costs and capital during an awful period for pax.
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