NZOG seeks 30% of Cue Energy via full takeover bid

Wed, 11 Feb 2015

By Pattrick Smellie Feb. 12 (BusinessDesk) - New Zealand Oil & Gas is fulfilling industry analysts' predictions that falling oil prices would prompt mergers and acquisitions among smaller local oil and gas players by mounting a full takeover bid for Cue Energy, just two months after buying a 19.99 percent stake previously owned by Todd Energy. The unconditional cash offer, at 10 Australian cents per share, is pitched at the same price as the December purchase from Todd and values the company at around A$70 million, but NZOG says it would...

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