Clock ticking on Ampol’s $2b bid for Z Energy

Ampol will exit its Gull business through a trade sale or IPO. (Image: Getty)

Tue, 12 Oct 2021

Australian transport fuels business Ampol has 12 months to jump the regulatory hurdles and win over Z Energy shareholders in its $1.99 billion takeover bid for New Zealand’s biggest petrol station chain.The two companies signed a binding scheme implementation agreement on Monday after Z’s board secured the right to pay an interim dividend on earnings already generated, a key issue when the NZ firm tested the appetite of its shareholders for a deal.The headline offer remained the same at $3.78 per share, or $1.97b, but Ampol agreed i...

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