Mosman’s MEO takeover flops

June 15, 2015

New Zeland and Australia focused Mosman Oil & Gas has failed to takeover 100% of MEO Australia.

Image of MEO's assets. From MEO.

In a statement from MEO, the company said that Mosman’s offer, which was not recommended by the MEO board, was unsuccessful. As of 5 June, Mosman had received acceptances for only 2.047% of MEO shares.

Mosman first announced its intention to takeover MEO in December 2014. Mosman proposed to offer MEO shareholders 1 AIM traded fully paid ordinary share in Mosman for every 20 ASX listed fully paid ordinary shares in MEO to acquire the 100% of the share capital of MEO in a bid as soon as February 2015.

MEO quickly rejected the bid, and urged shareholders to do the same in January.

MEO has a portfolio of exploration, appraisal and development stage opportunities on the North West Shelf, the Ashmore Cartier and the Timor Sea regions in Australia and onshore New Zealand.

Read more:

MEO rejects Mosman bid, cuts costs

Mosman proposes MEO Australia takeover



Current News

China Issues More Crude Oil Import Quotas

China Issues More Crude Oil Import Quotas

Fugro Enters the South Korean Offshore Wind

Fugro Enters the South Korean Offshore Wind

Asian Producers to Boost Winter Gas Supply

Asian Producers to Boost Winter Gas Supply

Tankers Unable to Offload in Malaysian Port

Tankers Unable to Offload in Malaysian Port

India's Oil Imports at 3-year Low

India's Oil Imports at 3-year Low

Shell Exits Two Kazakh Offshore Projects

Shell Exits Two Kazakh Offshore Projects

Temasek Bids $3 Bln for Control of Keppel

Temasek Bids $3 Bln for Control of Keppel

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week