OG Oil & Gas likely to cross minimum 50% threshold in NZOG takeover offer

Mon, 13 Nov 2017

By Rebecca Howard Nov. 14 (BusinessDesk) - OG Oil & Gas's partial takeover offer for New Zealand Oil & Gas is likely to reach the minimum 50 percent threshold now its acceptances and shares total more than 36 percent and Zeta Energy has reportedly indicated it will sell if the bid gets a green light from the Overseas Investment Office. The oil and gas division of Ofer Global received acceptances of about 6 million shares from Zeta related entities Bermuda Commercial Bank and UIL Ltd, and said Zeta Energy, which holds approximately 17 per...

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