Mosman Oil and Gas Limited, an oil company which recently launched a takeover offer for MEO Australia Limited, an independent oil and gas company based in Australia, has today extended the closing date of the offer.
The offer, which would expire on March 24, has been extended to May 8, 2015.
Mosman has said it has so far received encouraging acceptances and communications from a number of smaller shareholders of MEO.
“Acceptances have been received from in excess of 300 MEO shareholders for a total of 8,196,362 MEO shares, representing 1.092% of MEO Shares on issue,” Mosman has said.
Under the takeover offer by Mosman, MEO shareholders who accept the offer would receive one Mosman share for every 10 MEO Shares.
MEO’s management has advised its shareholders to reject the Mosman takeover offer, deeming it “highly conditional, opportunistic and uncertain.”
Offshore Energy Today Staff