PERTH (miningweekly.com) – Suitor Hancock Energy has urged the remaining shareholders in takeover target Warrego Energy to accept the 36c-a-share cash offer, after fellow-suitor Strike Energy this week ceded the battle.
Strike this week announced that it would accept Hancock’s offer for its own 25.99% shareholding in Warrego, after its one-for-one script offer failed to win shareholder support.
With Strike accepting the Hancock offering, Hancock’s interest in Warrego would increase to more than 78%.
The suitor on Thursday urged Warrego’s remaining shareholders to accept the offer, saying that once it had gained control of the company, it would review whether Warrego should be removed from the ASX. Hancock confirmed that if it obtained a greater than 90% interest in Warrego, it would certainly remove the company from the Australian bourse.
Hancock’s offer for Warrego is scheduled to close on February 24.