CHEUNG KONG INFRASTRUCTURE(1038.HK):PROPOSED MERGER
金英证券(香港)有限公司2015-09-09
CKI announced a proposed merger with PA (6 HK) byexchanging 1.04 CKI shares to PA shareholders. We think the main synergy is that CKI could strengthen thebalance sheet to capture more infrastructure opportunities. We believe the proposed merger is positive for bothcompanies. However, we will prefer CKI more.