Deals - Acquisition, Mergers, Divestitures
Drillsearch To Acquire Cooper Basin Player Acer
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Drillsearch Energy Limited announces an offer (through its wholly owned subsidiary Drillsearch (Central) Pty Limited) to acquire all of the ordinary shares in Acer Energy Limited (ASX:ACN) (Acer) for 25.5¢ cash per share by way of an off-market takeover offer (Offer). The Offer values Acer at approximately $118 million. Drillsearch Chairman Mr Jim McKerlie said: “We believe our cash offer for Acer is full and fair, providing Acer shareholders with certainty of value for their shares.
We are offering Acer shareholders a significant premium for their shares on attractive and flexible payment terms. “Importantly, Acer’s largest shareholder, Republic Investment Management, has sold 19.90% of its interest in Acer to Drillsearch and intends to accept the Offer for its remaining 18.82% holding…
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