Subscribe to RSS feedPure Energy opts for Arrow offer
by
Obsidian
—
last modified
Feb 19, 2009 12:00 AM
Australian takeover target Pure Energy is recommending an increased bid from Arrow Energy that values the coal seam gas producer at $890.4m and tops a rival offer from the UK's BG Group.
Arrow's revised offer is worth $7.16 a share, comprising $3 in cash and 1.57 Arrow shares.
BG, which is seeking to boost its reserves in Australia to support a liquefied natural gas project as well as to supply the...
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