Ofer Global Group lifts takeover bid for NZOG by 19% to 74 cents

Tue, 08 Oct 2019

Ofer Global Group has lifted its offer for minority holders of New Zealand Oil & Gas by 12 cents to 74 cents a share. Yesterday, the New Zealand Shareholders’ Association said the initial offer of 62 cents was “opportunistic” and that it would oppose the deal. Independent appraiser Northington Partners acknowledged the latest 62-cent offer was “not overly compelling” even if it was reasonable. Today's price increase was notified by OGOG following an approach from the independent directors of New Zealand Oil & Gas. OGOG is increasing the p...

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