OG Oil & Gas extends takeover offer for NZ Oil & Gas by a month

Tue, 24 Oct 2017

By Rebecca Howard Oct. 25 (BusinessDesk) - OG Oil & Gas has extended the closing date of its partial takeover bid for New Zealand Oil & Gas by one month to Dec. 9, while shareholder H&G has tendered its entire 9.2 percent stake into the offer. OGOG, the oil and gas division of Ofer Global, came in with a 77 cents per share offer for no more than 70 percent and at least a controlling stake and then sweetened the deal to 78 cents to fall within the valuation range, winning over NZOG's independent directors who unanimously backed the revised...

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