Stocks of the Hour: APA, Bank of Queensland & nib

Energy infrastructure business APA (ASX:APA) has launched a non-binding offer to AusNet a day after AusNet opened its books to Brookfield, who proposed a $9.6 billion take-over bid. APA has proposed to acquire all shares in AusNet for $2.60 per share while Brookfield made an offer at $2.50 per share. Shares in APA Group (ASX:APA) are trading 5.9 per cent lower at $8.36.

Bank of Queensland (ASX:BOQ) welcomes David Watts as chief risk officer from IAG and has promoted Chris Screen as group executive for business banking. David is set to arrive next year after spending over three years at IAG while Chris will take over Flamma Mortan's role next month. Shares in Bank of Queensland (ASX:BOQ) are trading 0.8 per cent lower at $9.09.

Health insurer nib (ASX:NHF) and Honeysuckle Health have been given authorisation to form and operate a health services buying group. The program is aimed to negotiate and manage contracts with healthcare providers, including medical practitioners and hospitals. Shares in nib Holdings (ASX:NHF) are trading 1.5 per cent higher at $6.86.

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Source: Finance News Network