NZOG says acceptances in Cue takeover lift holding to 27%, close to target

Fri, 13 Mar 2015

By Suze Metherell March 13 (BusinessDesk) - New Zealand Oil and Gas said acceptances under its hostile takeover offer for ASX-listed Cue Energy Resources lift its interest in the target company to 27.3 percent, close to its target holding. The Wellington-based oil and gas company acquired 19.99 percent of Melbourne-based Cue from Todd Energy just before Christmas and made a full takeover at the same price of 10 Australian cents last month. The offer documents say it is seeking only a 30 percent stake although the takeovers code requires a...

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