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The Australian Competition & Consumer Commission’s chairman Graeme Samuel said the regulator had accepted undertakings from the bidders that dealt with its concerns.
Babcock and Singapore Power raised their offer for Alinta to $A16.46 a share in May, beating a rival bid by Macquarie Bank.
The winning bid would see the Babcock consortium acquire all of Alinta’s gas and electricity assets, a 35% interest in Australian Pipeline Trust (APT) and shares in Australian Pipeline Ltd.
The ACCC said it had been concerned the deal would result in a lack of competition in gas pipelines in New South Wales and Western Australia.
But the bidders had agreed to divestments and other measures that removed those concerns, the regulator said.
Alinta will hold a shareholders’ meeting on August 15 to vote on the cash and scrip offer.
