Brookfield Agrees to Buy Australia’s AusNet in $7.7 Billion Deal

Australian natural gas transmission company AusNet Services has agreed to a binding takeover offer from a consortium including Brookfield Asset Management in a deal that values the business at A$10.2 billion ($7.7 billion).

AusNet said its board unanimously supports the A$2.65 per share offer from the group, which also includes pension funds Sunsuper Pty Ltd, Alberta Investment Management Corp., the Investment Management Corp. of Ontario and Healthcare of Ontario Pension Plan. Including debt, the deal is worth A$17.8 billion, Ausnet said in a statement Monday.

The agreement will further antagonize local rival suitor APA Group, which ...