deals-for-three-aussie-resources-companies

Deals for three Aussie resources companies

M&A activity in the Australian resources sector defies the recent drop in global commodity prices.
Consolidation in the Australian resources sector continued unabated this week with three MA deals reaching critical stages.

The first is a new takeover bid for Queensland Gas Co QGC which values the coal seam gas company at A$606 million $454 million. Santos - one of Australia's largest oil and gas producers - made the A$1.26 per share all-cash offer on Thursday.

Santos and advisors Caliburn Partnership mounted an on-market purchase of QGC shares earlier in the week, picking up 1.9 million shares and increasing its current interest in the business to 3.9%. The offer to buy all of the shares is subject to certain conditions, including acquiring a minimum 50.1% shareholding.

Managing director...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222