Eastern Bay Energy Trust declares Horizon takeover unconditional

Mon, 29 Jun 2015

By Paul McBeth June 30 (BusinessDesk) - Eastern Bay Energy Trust, the Bay of Plenty lines company, has declared its takeover of Horizon Energy unconditional after crossing the 90 percent threshold needed to mop up the remaining shares. The lines company controls 91.2 percent of Horizon after Marlborough Lines followed through on its pre-bid agreement to sell its shares, Horizon said in a statement. Eastern Bay Energy Trust offered to pay $4.41 a share for control of Horizon as part of a broader agreement for Marlborough Lines' stake. "...

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