MELBOURNE, Australia—Australian utility Duet Group has agreed to a takeover bid worth 7.3 billion Australian dollars (US$5.48 billion) from Hong Kong tycoon Li Ka-shing’s Cheung Kong Infrastructure Holdings Ltd. The offer, which is expected to test Canberra’s openness to overseas investment, was unanimously approved by Duet’s board. Last month, it agreed to open its books to Cheung Kong Infrastructure and related companies Power...

Source: Wall Street Journal January 16, 2017 06:50 UTC