Eastern Bay Energy Trust to make formal takeover for Horizon Energy

Thu, 04 Jun 2015

By Paul McBeth June 5 (BusinessDesk) - Horizon Energy Distribution's biggest shareholder Eastern Bay Energy Trust will make a formal takeover bid at 6.3 percent premium, having sewn up a deal with the Bay of Plenty lines company's second-biggest shareholder that takes its ownership above the threshold required to mop up minority investors. The trust will offer to buy the remaining shares at $4.41 apiece, a premium to the last trading price of $4.15, as part of broader agreement it reached to buy Marlborough Lines' 14 percent stake in Hori...

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