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Ampol's success in Z bid far from assured

Pattrick Smellie
Mon, 23 Aug 2021

Aussie fuel company Ampol faces a long race to the finish line for Z Energy. (Image: Getty)
Pattrick Smellie
Mon, 23 Aug 2021
Ampol’s takeover bid for Z Energy at $3.78 a share looks to be far from a slam-dunk, with Ampol investors driving the share price down more than 5% and Z’s chief executive looking for a sweetened offer.Z shares jumped 14.4% from $3.05 to trade at $3.49 by mid-afternoon Monday, hours after ASX-listed fuel refiner, distributor and retailer Ampol revealed its hand.But Ampol’s shares fell more than 5% in value immediately after the announcement before recovering to trade at A$26.34 mid-afternoon, down 4.3% on Friday night’s...

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