AusNet Services was Monday’s M&A surprise, revealing a $17 billion bid (including debt) from Brookfield.
The bid, Brookfield’s third nibble in the past month or so, was enough to get the Canadian giant an eight-week look at AusNet’s books on an exclusive basis.
Sources said AusNet used exclusivity to extract a higher offer from Brookfield – although there are the usual carve-outs which mean any superior offers will be considered carefully.