The first is a new takeover bid for Queensland Gas Co QGC which values the coal seam gas company at A$606 million $454 million. Santos - one of Australia's largest oil and gas producers - made the A$1.26 per share all-cash offer on Thursday.
Santos and advisors Caliburn Partnership mounted an on-market purchase of QGC shares earlier in the week, picking up 1.9 million shares and increasing its current interest in the business to 3.9%. The offer to buy all of the shares is subject to certain conditions, including acquiring a minimum 50.1% shareholding.
Managing director...
¬ Haymarket Media Limited. All rights reserved.
