Mosman increases offer for MEO Australia takeover
Mosman Oil & Gas has announced it has increased the amount it will pay for its proposed takeover of MEO Australia.
FTSE AIM All-Share
728.67
15:45 15/11/24
n/a
n/a
Mosman Oil and Gas Limited (DI)
0.04p
15:34 15/11/24
-1.99%
0.00p
Oil & Gas Producers
8,043.72
15:45 15/11/24
1.32%
105.17
Mosman has increased the all paper offer payable to MEO shareholders to one share for every 10 MEO shares from a previous bid of one Mosman share for every 20.
"This is a good opportunity for shareholders of both Mosman and MEO,” said group executive chairman John Barr.
"The combined entity can fund exploration, preserve longer term assets and progress to production and cash flow."
On Monday, Mosman shares closed up 30.43% to 7.50p.