Following media speculation, Duet Group
(ASX:DUE) has confirmed it has received an unsolicited takeover offer from Cheung Kong Infrastructure.
The Hong Kong based company is offering $3.00 share in cash.
Duet Group is evaluating the proposal and has advised shareholders to take no action at this stage given there is no certainty the proposal will proceed further.
The business has engaged Macquarie Capital and law firm Allens to assist in advising the business on the proposal.
Duet Group reported a net profit of $217.2 million at 30 June 2016.
