Li Ka-shing

Hong Kong tycoon Li offers $5.4B for Australia energy firm

Australian energy company Duet Group said Monday it's considering a multibillion dollar takeover offer from the infrastructure arm of Hong Kong tycoon Li Ka-shing's business empire.

Duet said it recently received an unsolicited cash offer from Cheung Kong Infrastructure Holdings for 3 Australian dollars a share. The offer is worth A$7.3 billion dollars ($5.4 billion).

Duet shares jumped on the offer, which was 28 percent higher than the closing price on Friday.

The proposal indicates renewed interest from billionaire Li in bidding for Australian infrastructure assets following a setback in August, when the government blocked a A$10 billion joint offer from Cheung Kong...