Shares for toll road operator, Transurban (ASX:TCL), dipped by 3.6% to A$12.66, marking their lowest point since October 2022.

This dramatic slide in price has occurred in response to Australia’s competition regulator preventing the company from acquiring a majority stake in Horizon Roads, the operator of the EastLink toll road in Melbourne.

Previous local media reports had estimated the value of this deal at A$2 billion.

Transurban (ASX:TCL) is considering its next steps and might review its decision.

RBC Capital Markets, unperturbed by the immediate economic effect, suspects that this move could have a negative impact in the long term.

The capital market firm has tagged Transurban (ASX:TCL) ‘sector-perform’ with a price target of A$14.75.

Now, the company’s stock is on track for its worst day in a month and has slipped 2.5% for the year after successive drops in the last three sessions.

Transurban (ASX:TCL) is a company that operates toll roads.