Skip Capital, a private investment fund, and Stonepeak Partners, a private equity firm, offered to acquire Genex Power, an Australian electricity generation company, for $243m. "After careful consideration of the Revised Indicative Proposal (including consultation with Genex’s advisers), the Board considers that it is in the interests of Genex Shareholders as a whole to engage further with the Consortium. Accordingly, the Board has decided to provide the Consortium with the opportunity to conduct confirmatory due diligence in order to assist the Consortium to provide a binding proposal to the Board. The provision of due diligence will be on a non-exclusive basis and subject to the terms of a confidentiality agreement between the Consortium and Genex," Genex Power. On August 17, 2022, the offer was raised from $220m to $243m.