Mosmon Oil & Gas fails in bid to takeover MEO Australia

Mosmon Oil and Gas said on Monday that it has failed in its bid to takeover MEO Australia after the deadline passed on Friday.

The MEO board, which did not recommend the offer, said it appreciated the support of the majority of its shareholders.

Mosmon, which is not planning to amend its offer, has issued 3.06m new shares to the MEO shareholders who did accept the offer.

A second tranche of takeover shares will be issued at a later day.