A consortium consisting Power Assets Holdings and CK Asset Holdings acquired APA Group, a company in Australia which owns and operates natural gas and electricity assets, for $16.3bn. The transaction value represented a 30.5% premium to the 5 day volume weighted average price of APA stapled securities. APA’s Board of Directors believed the offer to be compelling for APA Securityholders given the premium it represents to recent trading attractive acquisition multiple and certainty of value provided by the 100% cash consideration.